DITO regained its position above the 10-day SMA last Friday, with a little bit of help from the foreign investors’ net buying status even though it’s an insignificant amount relative to last Friday’s total turnover value worth nearly P534 million. Local traders and investors were the main drivers.
The immediate support is near P10.00, while the immediate resistance is pegged near P14.00.
DITO still lacks a confirmed buy signal due to its bearish 10SMACD combo and bearish Momentum Power Indicator.
While the DMI histogram’s classical interpretation shows that the upward momentum remains strong, that bullish sentiment only favors those who already have a base on DITO. For those who are yet to enter a new position on DITO, it’s not yet the rightful time to keep your hopes up too high. After all, DITO registers a high risk profile due to its 10-day historical volatility score of 82 percent.
If the foreign investors will register a net foreign buying above P50 million per day for three consecutive days, that might help the price draw closer to the immediate resistance.
If you’re fond of piggy-backing certain brokers (aside from COL Financial), here are the brokers that should monitor as far as the price-action on DITO is concerned:
- First Metro Securities
- BDO Securities
- BPI Securities
- Timson
The bulls are not getting any help from the overall True Market Sentiment across three timeframes yet. If Timson and BDO Securities will continue to buy back the DITO shares they’ve sold month-to-date, we might start to see a “bullish” rating at least on the True Market Sentiment for EOD.
Those who don’t have DITO are better off staying on the wait-and-see mode, especially if you’re a relatively new trader/investor. Those who already have a base on DITO and whose trailing stop remains intact, it’s either you hold your position or reduce the percentage of risk on your trailing stop. You may use my trailing stop calculator (LIBRARY-> TOOLS -> TRAILING STOP CALCULATOR).
My insights are predicated by these statistics below:
Trade-Volume Distribution
Last Price: ₱12.30
Intraday Low: ₱12.10
Intraday High: ₱12.88
VWAP: ₱12.4215
Dominant Range: ₱12.30 – ₱12.40
True Market Sentiment EOD (January 22, 2021)
True Market Sentiment: BEARISH
3 of the top 10 brokers registered a positive Net Amount
4 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: ₱12.4166
Top 10 Players’ Selling Average: ₱12.4456
13 out of 91 participants, or 14.29% of all participants, registered a 100% BUYING activity
23 out of 91 participants, or 25.27% of all participants, registered a 100% SELLING activity
True Market Sentiment WTD (January 18-22, 2021)
True Market Sentiment: NEUTRAL
7 of the top 10 brokers registered a positive Net Amount
4 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: ₱11.6007
Top 10 Players’ Selling Average: ₱11.6337
11 out of 108 participants, or 10.19% of all participants, registered a 100% BUYING activity
4 out of 108 participants, or 3.70% of all participants, registered a 100% SELLING activity
True Market Sentiment MTD (January 4-22, 2021)
True Market Sentiment: BEARISH
4 of the top 10 brokers registered a positive Net Amount
3 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: ₱12.2446
Top 10 Players’ Selling Average: ₱12.2783
6 out of 113 participants, or 5.31% of all participants, registered a 100% BUYING activity
2 out of 113 participants or 1.77% of all participants registered a 100% SELLING activity
OVERALL TRUE MARKET SENTIMENT (across 3 timeframes): BEARISH
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