Now Corporation (PSE:NOW) closed at P3.13 per share, up by 5.03 percent, on October 14, 2019, Monday. The total turnover value reached P18.2 million with a cross-traded volume worth of P2.9 million.
Local traders were the main drivers of NOW today. Foreign investors registered a Net Foreign Buying worth P321,910.00 only. The foreign investors remain as net sellers on NOW year-to-date.
The immediate support sits near 2.60 while the immediate resistance is near 3.20.
My 10SMACD indicator is bullish. My Momentum Power Indicator is also bullish.
NOW’s risk level is moderate based on its historical volatility of 58 percent. I would still recommend NOW for new traders as long as the 10SMACD and Momentum Power Indicator are bullish.
If NOW will maintain the bullishness of my 10SMACD and Momentum Power Indicator with a volume that’s higher than the 50 percent of NOW’s 10-day volume average, it’ll be more than likely for this stock to break above P3.20 and re-test the next resistance near P4.25.
Nonetheless, don’t expect much on that forecast for it’s a conditional probability.
Trade-Volume Distribution Analysis
Last Price: 3.13
VWAP: 3.087933661
Most Traded: 3.13 – 3.12
Most Voluminous: 3.1 – 3.13
The last price that’s higher than the Volume Weighted Average Price and the dominant range that’s closer to the intraday high than the intraday low helped in achieving a bullish Momentum Power Indicator today.
True Market Sentiment
True Market Sentiment on NOW as of Oct-14-2019 at 03:30PM, with a last price of 3.1300.
True Market Sentiment: BULLISH
6 of the top 10 brokers registered a positive Net Amount
6 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: 3.0919
Top 10 Players’ Selling Average: 3.0818
Bonus Info:
3 out of 37 participants or 8.11% of all participants registered a 100% BUYING activity
12 out of 37 participants or 32.43% of all participants registered a 100% SELLING activity
The bullish mood of the top 10 players plays a significant role in maintaining the appetite of traders to push the price higher.
But like what I always say to Equilyst Analytics subscribers, be on top of your trailing stop because no matter how bullish the data-driven assessment is, the stock is not forbidden to register a contrarian move.
Recommendations
Is your trailing stop on NOW still intact? Are you planning to top up? You may do so for the 10SMACD and Momentum Power Indicator are both bullish. If you will top up, don’t buy at any price but within the dominant range only. Read what I wrote in the fourth lesson that you’ll learn in the Evergreen Strategy in Trading and Investing in the Philippine Stock Market Video on this page so you’ll know the relevance of positioning within the dominant range only.
If you’re an Equilyst Analytics subscriber, please post a request for our latest analysis and recommendation on NOW in our Private Clients Forum. Since stocks are volatile, today’s assessment may no longer be applicable tomorrow.
Do you plan to enter a new position on NOW? Don’t be too quick in buying because you must calculate your reward-to-risk ratio first. You can use this Reward-to-Risk Ratio Calculator.
If you’re satisfied with your reward-to-risk ratio, that’s the only time that you should do a test-buy within the dominant range. Calculate your trailing stop as soon as you’ve your order is processed. You can use this Trailing Stop Calculator that I created.
Again, if you’re an Equilyst Analytics subscriber, please ask for NOW’s latest Trade-Volume Distribution and True Market Sentiment charts in our Private Clients Forum so we can update if it remains buy-able.
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