Greenergy Holdings, Inc. (PSE:GREEN) closed on Wednesday, July 17, 2019, at 2.40, up by 2.13 percent. Foreign investors registered a Net Foreign Buying worth P6.9 million.
Its immediate support is near 2.25 while its immediate resistance is near 2.90. If it breaks below 2.20, the next support will be near 1.43. If it breaks above 2.90, the next resistance will be near 3.50.
My 10SMACD combo is still not present on the daily chart of GREEN. However, my Fantastic Four signals are present already. It would have been better if my 10SMACD combo was present also. However, if you can’t wait for that combo to be revalidated, at least, you have the Fantastic Four signals present as a go signal for a test-buy should you get a desirable reward-to-risk ratio.
Those who attended my The Evergreen Strategy in Trading the Philippine Stock Market seminar know what these 10SMACD combo and Fantastic Four signals are and what they’re being used for.
GREEN has a moderate risk level due to its historical volatility score of 57 percent.
This stock is still more likely to continue to move sideways. Its +DMI and -DMI have been in an intertwined position since the last week of April 2019. Add to that the ADX score that has been below 25 points since then.
Trade-Volume Distribution
Last Price: 2.40
VWAP: 2.401841754
Most Traded: 2.45 – 2.39
Most Voluminous: 2.39 – 2.39
GREEN might continue to trade actively between 2.38 and 2.48 by the next trading day. If you’re going to trade GREEN, I suggest that you position within that range.
What if GREEN starts at a price lower or higher than that range?
If you’re an Equilyst Analytics subscriber, you must post a request for GREEN’s latest Trade-Volume Distribution and True Market Sentiment charts in our Private Clients Forum so that my team and I can give you our latest insights based on the prevailing data that we have.
True Market Sentiment
True Market Sentiment of GREEN as of Jul-17-2019 at 03:30PM, with a last price of 02.400.
5 of the top 10 brokers registered a positive Net Amount
4 of the top 10 brokers have a higher Buying Average than Selling Average
True Market Sentiment: BEARISH
Top 10 Players’ Buying Average: 2.4102
Top 10 Players’ Selling Average: 2.4081
Bonus Info:
7 out of 43 participants or 16.28% of all participants registered a 100% BUYING activity
17 out of 43 participants or 39.53% of all participants registered a 100% SELLING activity
Even if GREEN closed with a green candlestick today, the majority of the top 10 players were not so bullish on this stock. I can still sense that most of them are in an eavesdropping mode. You need to consider this if you’re planning to enter a new position only now.
Recommendations
If you have had GREEN and if it’s still trading above your trailing stop loss, you may top-up but I suggest that you do it within the dominant range I’ve mentioned above. If GREEN starts at a price higher or lower than that range, immediately ask for the latest Trade-Volume Distribution chart in our Private Clients Forum.
If you are yet to enter a new position on GREEN and you’re a newbie, you’re better off waiting for the price to move above the 10-day SMA and for MACD to cross above the signal line. On the other hand, you may test-buy within the dominant range if you are an experienced trader already.
The reason for my conservative recommendation for newbie traders is that you’re still in the process of taming your emotion at this stage. I do not want you to be filled with panic on your first trades. If you’re a subscriber of Equilyst Analytics for 1 year, I strongly suggest that you attend my The Evergreen Strategy in Trading the Philippine Stock Market seminar. You are entitled to a 50% discount on your ticket. Click here to check if I have this seminar near or in your area.
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