Puregold Technical Analysis
Puregold Price Club, Inc. (PGOLD) closed to 42.70 per share, plummeted by 2.95 percent, as of September 11, 2019. The total turnover value is P103.3 million. PGOLD is the number one top loser based on the size of the total turnover value today.
Despite the descent in price, it registered a Net Foreign Buying worth P26.7 million. Foreign investors are still net sellers year-to-date due to the P96 million net foreign selling that was registered in April.
The three simple moving averages I’m using are still in a perfect bearish alignment. That means the shorter-term SMAs are below the longer-term ones.
Either case, my 10SMACD combo is already invalid.
PGOLD broke below the previous support at 43.80 today. That level is aligned with the 38.20 percent retracement of the Up Fibonacci. The price at 43.80 is now acting as the immediate resistance. The immediate support is at 42.35, which is aligned to the 23.6 percent retracement of the Up Fibonacci.
RSI is in the neutral territory but it’s already downward-sloping.
PGOLD’s risk level is still low based on its historical volatility score of 23 percent.
The DMI lines and the ADX score show that PGOLD is still busy moving inside the consolidation phase (sideways movement). When the positive and negative DMI lines do not want to diverge from each other, and when the ADX is below 25 points for over 30 days, that’s a confirmed sign that the stock is in a consolidation phase.
Trade-Volume Distribution
Last Price: 42.70
VWAP: 42.83736519
Most Traded: 42.75 – 42.7
Most Voluminous: 42.7 – 42.7
True Market Sentiment
True Market Sentiment of PGOLD as of Sep-11-2019 at 03:30PM, with a last price of 42.700.
6 of the top 10 brokers registered a positive Net Amount
4 of the top 10 brokers registered a higher Buying Average than Selling Average
True Market Sentiment: NEUTRAL
Top 10 Players’ Buying Average: 42.8767
Top 10 Players’ Selling Average: 43.1204
Bonus Info:
21 out of 39 participants or 53.85% of all participants registered a 100% BUYING activity
7 out of 39 participants or 17.95% of all participants registered a 100% SELLING activity
Recommendations
Do you have PGOLD?
If you have PGOLD because it’s still trading above your trailing stop loss, I suggest that you adjust the percentage of risk you’ve applied in calculating your trailing stop loss.
The dominant range is closer to the intraday low than the intraday high. The four criteria of my Momentum Power Indicator are all bearish on PGOLD today.
This means the downward movement of the price is more likely to continue.
Do you plan to do a test-buy on PGOLD?
Postpone that plan. My 10SMACD combo is invalid. My Momentum Power Indicator is bearish. The buy signals are missing.
I suggest that you subscribe to Equilyst Analytics or attend my Evergreen Strategy in Trading and Investing in the Philippine Stock Market seminar so you’ll understand what these 10SMACD, Momentum Power Indicator, True Market Sentiment, Trade-Volume Distribution, and other stuff are. They are my proprietary methodologies in doing technical analysis.
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Lesson 1: how to identify the best stocks to trade
Lesson 2: how to check if the current trend is more likely to continue
Lesson 3: how to know the true market sentiment
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
- Makati – September 28, 2019
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