Sentimental and Technical Analysis for Int’l Container Terminal Services, Inc. (PSE:ICT)
If you’ve been trading Int’l Container Terminal Services, Inc. (PSE:ICT) since the first quarter of 2020, I know you’ve been enjoying two years of a profitable experience trading ICT. This stock has been in an uptrend channel since March 2020. That was the time when ICT was priced around P66.00 per share. As of the time of writing, it’s priced at P224.60. You got to be kidding me if you’re saying you’re not happy with the 240% surge in price!
I know you may have already locked in some, or all, of your profits somewhere along the way if your trailing stop got it, especially when the price bumped around P204.60 before it landed near P168.60. Even if, let’s say, you sold at P168.60, that’s still a 155% profit if you entered at P66.00.
The immediate support of ICT stands near P204.60, while the immediate resistance is near P228.20. If the price breaks out above the immediate resistance, the next resistance will be near P263.00, which is confluent with the 61.8% extension of the Up Fibonacci.
As of the time of writing, around 45% to 50% of the volume and and number of trades is registered between P224.80 and P225.00.
Meanwhile, 19 of the 33 participating brokers, or 57.58% of all participants, registered a positive Net Amount. Also, 17 of the 33 participating brokers, or 51.52% of all participants, registered a higher Buying Average than Selling Average. Moreover, the buying average of all participating brokers is at P224.80, while their selling average is at P224.76. Lastly, 5 out of 33 participants, or 15.15% of all participants, registered a 100% buying activity. On the other hand, the ones that registered a 100% selling activity have the same percentage as the ones who registered a 100% buying activity. Timson Securities, JP Morgan Securities, and Credit Suisse Securities are the top 3 participating brokers of ICT.
Foreign Investors
It’s been four trading days that ICT has been enjoying a net buying activity from the foreign investors. As of the time of writing, the net foreign buying amounts to P37 million. Setting the chart from daily to weekly, I see that the last week of February 2022 is its week with the highest net foreign buying year-to-date amounting to P348 million. However, don’t keep your hopes up too high yet because ICT is still experiencing a net foreign selling status year-to-date. The first two months of 2022 both ended on a net foreign selling status.
Volume
ICT’s daily volume is higher than 50% of its 10-day volume average since the last week of February 2022. As of the time of writing, volume is still below the 50% of 10-day volume average. That explains the intraday struggle in piercing the resistance near P228.00.
Moving Average Convergence Divergence
ICT’s MACD is still bullishly moving above its signal line. The MACD line is still now bending toward the southward direction. By classical interpretation, this signals that the uptrend is still more likely to continue. But we do not derive our final synthesis on one indicator alone.
Still a Newbie-friendly Stock?
ICT is still a newbie-friendly stock due to its low erraticity brought by its 10-day historical volatility score of nearly 48%. However, I’d like to remind you that having a low erracitity level is not a buy signal. I use this indicator to know if the stock is more likely to move erractically in the next few days.
Is There a Confirmed Buy Signal?
Let’s take a look at the ratings of the six indicators that compose my proprietary methodology called The Evergreen Strategy in Trading and Investing in the Philippine Stock Market. If all of them are bullish, then, there’s a confirmed buy signal.
Once there’s a confirmed buy signal, you need to calculate your reward-to-risk ratio and initial trailing stop. Do a test-buy or top-up on your existing shares if and when you’re satisfied with the ratio.
Parameter 1: Is its last price moving above its 10-day simple moving average (SMA)?
Answer: YES
Parameter 2: Is its last volume bar higher than 50 percent of its 10-day volume average?
Answer: NO
Parameter 3: Is its moving average convergence divergence (MACD) moving above its signal line?
Answer: YES
Parameter 5: Is its Dominant Range Index bullish?
Answer: Login to your account and ask for the DRI of this stock.
Parameter 6: Is its Market Sentiment Index bullish?
Answer: Login to your account and ask for the DRI of this stock.
Need Help?
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