Italpinas Development Corporation closed on July 26, 2019, Friday, at 6.62 per share, up by 4.58 percent. IDC is up by 19.71 percent WTD, up by 36.21 percent MTD, and also up by 36.49 percent YTD.
Foreign investors’ participation last Friday was insignificant at a Net Foreign Selling worth P209,051.00. These foreign investors are also more or less bearish YTD.
The three simple moving averages of IDC are in a perfect bullish alignment. My 10SMACD combo is valid.
The risk level of IDC remains low with its historical volatility score of 66 percent.
The upward momentum is already very strong as confirmed by the position of +DMI above the -DMI and by the ADX score of 36 points.
IDC broke the previous resistance at 5.80 last July 23, 2019. That price is now acting as its immediate support level. The resistance is near 6.90 as a precursor to the next resistance at 7.60.
Trade-Volume Distribution
Last Price: 6.62
VWAP: 6.56599609
Most Traded: 6.66 – 6.7
Most Voluminous: 6.61 – 6.6
The position of the closing price above the volume weighted average price of 6.57 is another confirmation of the continued bullishness of this stock.
With that, my proprietary Momentum Power Indicator is bullish. This means the ascent in price is more likely to continue.
I suggest that you monitor the price of IDC on Monday between 6.60 and 6.70.
IMPORTANT: If you are a subscriber of Equilyst Analytics and if you have IDC or are planning to trade it, immediately request for this stock’s latest Trade-Volume Distribution chart in our Private Clients Forum if it starts at a price higher or lower than the range I mentioned above.
True Market Sentiment
True Market Sentiment of IDC as of Jul-26-2019 at 03:30PM, with a last price of 6.6200.
4 of the top 10 brokers registered a positive Net Amount
8 of the top 10 brokers registered a higher Buying Average than Selling Average
True Market Sentiment: NEUTRAL
Top 10 Players’ Buying Average: 6.5926
Top 10 Players’ Selling Average: 6.5695
Bonus Info:
10 out of 46 participants or 21.74% of all participants registered a 100% BUYING activity
17 out of 46 participants or 36.96% of all participants registered a 100% SELLING activity
My proprietary True Market Sentiment indicator shows a neutral score because the majority of the top 10 brokers last Friday were in an eavesdropping mode with each other.
That stance could be derived from the RSI score that is already playing inside the classical overbought territory. Traders who believe the classical definition of oscillators may have opted to stay in a risk-averse situation for now until they see someone who’s willing to buy IDC at a higher price by a significant degree.
Recommendations
Do you have IDC and you’d like to know if I see some data-driven signals for you top up? Yes, you can top up within the dominant range for as long as the current price is moving above your trailing stop loss.
Are you only planning to add IDC in your portfolio? I suggest that you calculate your reward-to-risk ratio first. If you’re a beginner, know that you’re going to get a more attractive reward-to-risk ratio when the last candlestick is closer to the immediate support than the immediate resistance. At the end of the day, consult your personal risk tolerance if you’re already satisfied with your reward-to-risk ratio. If you are, then, do a test-buy within the dominant range.
Whatever situation you have, please make sure that you post a request for IDC’s latest Trade-Volume Distribution and True Market Sentiment charts in our Private Clients Forum so that my team and I can tell you the latest favorite range of traders as trading happens together with the latest stance of the top 10 brokers.
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