Technical Analysis
Metro Pacific Investments Corporation (MPI) closed on April 26, 2019 at 4.57 per share, higher than its Volume Weighted Average Price (VWAP) of 4.52.
The green candlestick was matched with a green volume that was either equal or higher than its 10-day volume average.
On the other hand, foreign investors have been in a 16-day streak of selling MPI shares. They are bearish on MPI for 2019 YTD. Their intense selling appetite has started in the third week of March 2019.
Support is near 4.30. Resistance is near 5.00.
If MPI will continue to breakout above 4.60 with a bullish volume above its 10-day volume average, that will be a bullish milestone for MPI in the short-term.
While MPI already recovered its position above the short-term SMA, it must breakout above 4.80 with a bullish volume to regain its bullish stance in the medium- and long-term scales.
MACD seems to give hope to MPI investors as it registers a formation of bullish convergence with the signal line. A touch to the 4.70 level could make MACD cross above the signal line.
Trade-Volume Distribution Analysis
VWAP: 4.5127
Most Traded Prices: 4.46, 4.48, 4.47, 4.49, 4.45
Most Voluminous Prices: 4.57, 4.5, 4.48, 4.47, 4.46
I see that the most traded and most voluminous range is closer to the intraday low to the intraday high.
This makes you think, “Weren’t MPI traders confident enough to push the price higher and break out above 4.60 on Monday?”
For one, if they were extremely bullish, the most traded and most voluminous range would have been printed closer to the intraday high than the intraday low. Makes sense?
Top 10 Players Analysis
Trading participants of MPI with a 100% Buying and Selling Activity as of Apr-26-2019 at 03:30PM:
9 out of 41 participants or 21.95% of all participants registered a 100% BUYING activity
15 out of 41 participants or 36.59% of all participants registered a 100% SELLING activity
Top 10 Players’ Buying Average: 4.5186
Top 10 Players’ Selling Average: 4.5215
Look at the top 10 players’ buying and selling averages. It’s at 4.52. Remember, that’s the VWAP also.
I feel some sort of hesitation from the traders’ sentiment last Friday because of how the trade-volume distribution chart is structured and the confluence between the VWAP and the top 10 players’ buying and selling averages.
Overall Sentiment
My overall sentiment on MPI is neutral to bullish. I am not completely bullish on MPI yet because of the source of the hesitation I cited above. Nonetheless, my overall sentiment is subject to change should MPI break out above 4.60 with a volume above its 10-day volume average.
Recommendation
If you managed to buy MPI near 4.30, watch out closely on 4.60 level within the first 30 minutes of trading on Monday. Sell a few tranches if you see that the prevailing price is below the VWAP and if the most traded and most voluminous range is closer to the intraday low than the intraday high. Respect your trailing stop loss.
If you don’t have MPI yet, monitor it within the first 30 minutes of trading on Monday, too. Do a test-buy within the most traded and most voluminous range I=if you see a green candlestick, if the prevailing price is above the VWAP, if volume is green, and if the most traded and most voluminous range is closer to the intraday high than the intraday low.
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Please comment below if you find this helpful. Please let me know which part of my analysis did you find helpful the most.
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Very helpful indeed..tnx and more power
Thank you for your kind feedback, Tyo lows.