JFC Technical Analysis
Jollibee Foods Corporation (JFC) closed at 217.40, down by 3.38 percent, as of recess of August 13, 2019. Foreign investors have registered a Net Foreign Selling (NFS) worth P77.2 million as of the first half of trading. Foreign investors have been in their 5-day streak of NFS already.
If you’ve been following my daily stock analysis, you must have already read that I’ve been bearish on JFC for a while already.
- August 6, 2019: JFC Technical Analysis: Buy Now or Wait Between 200 and 220?
- August 9, 2019: Jollibee Technical Analysis: Buy If You Are Colorblind
JFC already broke below the previous support at 220. That price point is now acting as its immediate resistance. The acting immediate support now is at 200, which is a precursor to 180.
At this moment, the 10SMACD combo is already invalid and the Momentum Power Indicator is bearish. The descent in price is more likely to continue.
Trade-Volume Distribution
Last Price: 217.40
VWAP: 219.5707131
Most Traded: 218.2 – 218
Most Voluminous: 218.2 – 218
The dominant range is closer to the intraday low than the intraday high.
True Market Sentiment
True Market Sentiment of JFC as of Aug-13-2019 at 12:00PM, with a last price of 217.400.
4 of the top 10 brokers registered a positive Net Amount
6 of the top 10 brokers registered a higher Buying Average than Selling Average
True Market Sentiment: NEUTRAL
Top 10 Players’ Buying Average: 219.9970
Top 10 Players’ Selling Average: 219.5242
Bonus Info:
50 out of 79 participants or 63.29% of all participants registered a 100% BUYING activity
2 out of 79 participants or 2.53% of all participants registered a 100% SELLING activity
The top 10 players are not in the mood to buy the dips yet.
Those 50 confident buyers must be the avid followers of Buy Below Price and any cost averaging method. Don’t imitate them. The downtrend is still more likely to continue. So why should you buy the dips?
Which makes more sense at this point? Buy the dips or wait for the sellers to get exhausted so you can buy at a cheaper price once the signs of reversals are present?
Recommendations
Do not top up. Do not enter a new position yet. Don’t use you’re being a long-term investor as a justification of your act of averaging down. Always be logical. Average down only when there’s a data-driven reason to do so.
For those who don’t have this stock but are planning to enter a new position:
Postpone that plan for now. Wait for the 10SMACD combo to be revalidated and for the Momentum Power Indicator to become bullish. You can skip the validation of the 10SMACD combo if these two conditions are present:
- if you regard yourself as an experienced and disciplined trader
- if the Momentum Power Indicator is bullish
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- Lesson 1: how to identify the best stocks to trade
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- Lesson 4: how to identify a confirmed buy signal
- Lesson 5: how to identify the best price range to trade
- Lesson 6: how to sell more logically and less emotionally
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