GLO Technical Analysis
Globe Telecom, Inc. (GLO) is currently trading at 2,036.00 per share, down by 3.05 percent, as of 11:19AM GMT + 8 on August 5, 2019. GLO is down by 5.40 percent MTD but up by 6.95 percent YTD. GLO has a dividend announcement for P22.75 per common share. The Ex-Div Date is on August 14, 2019.
Do you know if you will get the dividend if you will buy or sell before, on, or after the Ex-Div Date? No? No worries. I got you covered. I wrote an article in Filipino entitled Kailan Makakatanggap at Hindi Makakatanggap ng Dividends.
You will know if you are qualified to receive dividends if you will buy or sell before, on, or after the Ex-Div Date after reading that article.
GLO broke below the support at 2130 last week, which makes that price as its immediate resistance. The acting immediate support is now pegged near 1985. If it breaks below 1985, the next support is already quite deep at 1760.
GLO will be bearish in the long-term once it breaks below 2030, which is also the line that’s in confluence with the 200-day SMA.
Even if foreign investors consistently registered a daily Net Foreign Selling last week, they are still net buyers YTD.
Are There Confirmed Buy Signals?
I don’t see one. Firstly, my 10SMACD combo is invalid. The four criteria of my Momentum Power Indicator (MPI) are not present, which leads to a bearish MPI.
GLO’s RSI is approaching the classical oversold level. I’m excited to look for signs of a bullish reversal once the price draws closer or touches the support at 1985.
The risk level of GLO remains low due to hits historical volatility score below 50 percent.
The downward momentum is not yet officially very strong but the -DMI and the ADX score are traversing toward that direction already.
Trade-Volume Distribution Analysis
Last Price: 2,030.00
VWAP: 2045.541793
Most Traded: 2066 – 2036
Most Voluminous: 2064 – 2030
The dominant range is concentrated toward the intraday low. This shows that the descent in price is more likely to continue unless this stock will be force-closed near the intraday high this afternoon.
True Market Sentiment Analysis
True Market Sentiment of GLO as of Aug-05-2019 at 11:33AM, with a last price of 2030.00.
5 of the top 10 brokers registered a positive Net Amount
5 of the top 10 brokers registered a higher Buying Average than Selling Average
True Market Sentiment: NEUTRAL
Top 10 Players’ Buying Average: 2044.4930
Top 10 Players’ Selling Average: 2044.0611
Bonus Info:
19 out of 34 participants or 55.88% of all participants registered a 100% BUYING activity
6 out of 34 participants or 17.65% of all participants registered a 100% SELLING activity
I don’t see huge signs of interest to buy the dips of GLO yet. It’s a neutral true market sentiment. With this neutral sentiment, I’m keen to see the support at 1985 being respected. Let’s not just forget to adjust our insights and plans according to the prevailing data.
Recommendations
Do you have GLO in your portfolio? Are you still holding on to this stock? You can do that provided it’s still trading above your trailing stop loss. But do not top up. I do not see data-driven signals that will support the idea of topping up at this moment.
It’s better not to enter a new position yet on this name until the 10SMACD combo becomes valid and the Momentum Power Indicator becomes bullish.
Please review the latest handouts of The Evergreen Strategy in Trading the Philippine Stock Market seminar, which I emailed this morning. Check those flowcharts. I already taught you how to know and what to check if the downward momentum is more likely to continue.
I hope you’re a subscriber of Equilyst Analytics because I highly recommend that you post a request for this stock’s latest Trade-Volume Distribution and True Market Sentiment charts in our Private Clients Forum if it registers a price that is either lower or higher than the dominant range I showed above.
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