Manila Electric Company (PSE:MER) is priced at ₱335.4 per share as of 03:30 PM GMT+8 on November 14, 2019. It is down by 3.34 percent.
The Total Turnover Value is at ₱60,576,734.00. The foreign traders are the main drivers of MER today.
Foreign investors registered a Net Foreign Selling worth ₱33,229,624.00. They are net buyers year-to-date.
The immediate support is near ₱331.85, while the immediate resistance is near ₱355.65. The next support and resistance levels are seen on the chart below. You can also use my Support and Resistance Calculator.
My 10SMACD combo is bearish.
MER’s risk level is low due to its historical volatility score of 36.96 percent.
Trade-Volume Distribution Analysis
Last Price: ₱ 335.4
VWAP: ₱339.8033
Dominant Range: ₱341 – ₱342
The Momentum Power Indicator of MER is bearish because all of 4 elements are bearish.
It’s more than likely for the price to either move sideways or go down because the 10SMACD and the Momentum Power Indicator are not yet bullish.
True Market Sentiment – EOD
True Market Sentiment on MER as of Nov-14-2019 at 03:30PM, with a last price of ₱335.40
True Market Sentiment: BEARISH
4 of the top 10 brokers registered a positive Net Amount
4 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: ₱339.6536
Top 10 Players’ Selling Average: ₱339.5858
Bonus Info:
30 out of 52 participants or 57.69% of all participants registered a 100% BUYING activity
5 out of 52 participants or 9.62% of all participants registered a 100% SELLING activity
True Market Sentiment – WTD
True Market Sentiment on MER from Nov-11-2019 to Nov-14-2019 at 03:30PM, with a last price of ₱335.40
True Market Sentiment: BEARISH
3 of the top 10 brokers registered a positive Net Amount
5 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: ₱342.9991
Top 10 Players’ Selling Average: ₱342.4308
Bonus Info:
22 out of 61 participants or 36.07% of all participants registered a 100% BUYING activity
8 out of 61 participants or 13.11% of all participants registered a 100% SELLING activity
True Market Sentiment – MTD
True Market Sentiment on MER from Nov-04-2019 to Nov-14-2019 at 03:30PM, with a last price of ₱335.40
True Market Sentiment: NEUTRAL
5 of the top 10 brokers registered a positive Net Amount
7 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: ₱346.1159
Top 10 Players’ Selling Average: ₱345.3345
Bonus Info:
23 out of 78 participants or 29.49% of all participants registered a 100% BUYING activity
8 out of 78 participants or 10.26% of all participants registered a 100% SELLING activity
Recommendations
I do not see a confirmed buy signal whether you already have a position on MER or not.
In case you already have MER in your portfolio, check first if it’s still trading above your trailing stop. Based on what has happened on the price of MER since the last week of September 2019, you should have already sold your position on MER. If, for some reason, your trailing stop is still intact, I recommend that you reduce the percentage of risk on your trailing stop. Use my Trailing Stop Calculator. Do not top up. Do not add more shares yet. Sell if your trailing stop got hit after reducing the percentage of risk on your trailing stop.
On the other hand, do not think that MER is too cheap to ignore. This could get cheaper. The price is more than likely to re-test the support at ₱331.85. Don’t follow the generic “buy near support”. If the downtrend is still strong even when the price hits the support, why should buy? Isn’t it better to continue monitoring instead of buying? Answer in your heart.
The daily, weekly, and monthly True Market Sentiment charts show the lack of appetite of the top 10 players of MER to buy the dips.
Try our stock market subscription service so we can guide you further. You will receive a daily video for short-term trading. You will access our investment guide for long-term investing, which we update four times a day. You will be able to ask for our analysis and recommendation in our forum. You will have an access to our Study Room where you can test your knowledge and earn a 20% commission when someone subscribes through your affiliate links. You will also be able to open an online stockbroker’s account with First Metro Securities for free. Plus, you’ll have a 2-month free access to FirstMetroSec PRO, the most advanced online stock trading platform in the Philippines.
Also, we highly recommend that you watch our online stock market course called The Evergreen Strategy in Trading and Investing in the Philippine Stock Market. You will know how to find the stocks that you should add in your watchlist, how to check if the current trend is more than likely to continue, how to know the true market sentiment, how to identify a confirmed buy signal, how to identify the best price range to trade, and how to sell more logically and less emotionally.
- Key Prices for PH Bluechip Stocks 30% Above 52-Week Low - June 4, 2024
- May 2024 Market Sentiment Rating of 30 PH Bluechip Stocks - June 3, 2024
- EquiTalks: ICT, BPI, AEV Updates – 5.29.2024 - May 29, 2024
