If you think DMCI Holdings (DMC) has just entered the bearish territory today, 4 May 2018, I would suggest that you extend your chart all the way to January 2018. DMC broke below the 200-day SMA sometime in the last week of January 2018.
MACD will tell you the same. That was the same week when it crossed below the zero line. Since then, it’s been wrestling with the signal line below the zero line. Stochastic also shows that DMC has been trading inside the oversold zone for months already.
DMC broke below the support at 10.80 yesterday but it managed to close exactly at 10.80 today.
On the Weekly Chart, I would say that the support is now at 10.00 as a precursor to 9.00. Resistance is at 12.00.
Volume
As of May 4, 2018, at 03:30PM, the volume is 184.74% of the previous trading day.
Today’s green candlestick is supported by a bullish volume. Although classical pattern shows that a bullish price with a bullish volume could lead to the continuity of the bullish price, I’m not so sure yet about DMC since it’s at the crossroad between staying above or going below 10.80. The best thing to do is to monitor further.
Price-Volume Distribution
Watch out for the 10.80 to 10.86 range on Monday. DMC might play actively within this range again.
Foreign Fund Flow
On a 30-day trading period, DMC is on a Net Foreign Selling worth PHP693,633,282.00.
Today’s Net Foreign Selling is at P110 million. It’s its biggest NFS for the past 120- to 150-trading period.
If you’re my client and you’re trading DMC, I strongly advise that you post a request for our latest analysis of this stock by the end of trading on Monday. Post your request in our Private Clients Forum.
Top 10 Players’ Sentiment – 4 May 2018
Participants with a 100% Buying and Selling Activity as of May-04-2018 at 03:30PM:
- 13 out of 54 participants or 24.07% of all participants registered a 100% BUYING activity
- 16 out of 54 participants or 29.63% of all participants registered a 100% SELLING activity
- Top 10 Players’ Buying Average: 10.8307
- Top 10 Players’ Selling Average: 10.8375
The psychological average price of the top 10 players as of May-04-2018 is between 10.8307 and 10.8375.
Post in our Private Clients Forum if you want to know the top 10 players’ sentiment for DMC for this entire week.
Risk Level
DMC has a moderate-risk level based on our risk level indicator.
My Overall Sentiment
I am neutral to bearish on DMC. My take on this is to stay on the sideline and monitor it further.
Here’s what I will personally do on Monday.
- Check the Price-Volume Distribution and Top 10 Players charts within the first 15 minutes of trading, 30 minutes before recess, 30 minutes after recess, and 30 minutes before the end of trading.
- If the majority of the traded volume is registered towards the upper half of my Price-Volume Distribution chart and I see a bullish sentiment on my Top 10 Players chart, I might buy in tranches (test buy).
- If my tools will show a weaker DMC, this will stay in my watchlist for the meantime.
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Thanks, Jaycee for your helpful insights. I’m learning small steps in understanding how to go with my own watchlist. Keep it up, Jaycee.
I’m glad I was able to help you, Jerome.