PXP Energy Corporation (PSE:PXP) is currently trading at 8.68 per share as of the time of writing this analysis. It’s already trading below its VWAP of 8.35. This confirms the dominance of the intraday downward pull not to mention the intraday volume that has already engulfed yesterday’s volume.
Technical Analysis
Despite this intraday descent in price, PXP still managed to maintain its position above the 10SMA. This stock is still relatively bullish in the short-term but bearish in the medium- to long-term.
Support currently sits near 6.75 while the resistance is pegged near 10. The mid-term support near 12 is a precursor to next resistance at 14. If PXP continues to go down and break below 6.75, there is a 5.00 that waits at the bottom.
I will find PXP interesting to trade once it breaks above 10.00 with a bullish volume.
Yesterday, foreign investors registered a Net Foreign Buying worth P10 million. As of the time of writing this, it’s still an NFB but only worth more or less P4 million. On a larger scale, foreign investors are bearish on PXP for 2019 YTD.
Price-Volume Distribution Analysis
VWAP: 9.3504
Most Traded Prices: 9.65, 9.6, 9.7, 9.5, 9.55
Most Voluminous Prices: 9.7, 9.6, 9.65, 9.5, 8.7
On the price-volume distribution chart, it appears that the most traded and most voluminous range is parked closer to the intraday high than the intraday low. A few minutes since I generated my PVD chart, the current price of PXP already dove at 8.57, which is closer to its intraday low than to its intraday high. This shows a reversal of intraday sentiment from being bullish in the first half of trading to being bearish in the second half.
Those who went in on PXP in the P6sh or P7sh level could be the ones who decided to lock-in some profits in the P9sh territory. That was a good move.
My overall sentiment is bearish on PXP.
If you entered PXP in the P6sh or P7sh level, lock-in some profits between P9 to P10 or wherever your trailing stop loss is.
If you don’t know what a trailing stop loss is and how it is computed, you can watch this video below.
Trailing Stop Loss vs Target Selling Price
In this video, Jaycee De Guzman, our founder and CEO, explained in Filipino why a Trailing Stop Loss trumps a Target Selling Price in terms of the ability to maximize your potential gain and of having a stress-free way of limiting your potential losses within your tolerable risk.Just a little correction on the 17:44 part of the video. It's about the calculation of the yield from the entry price of 19.80 to the Target Selling Price of 21.30. One of the correct formulae is this: (21.30-19.80)/19.80 = 0.0757 or 7.58%Do you need our assistance? Subscribe to our services today!You'll get access to ALL of these three services when you subscribe TODAY!✅ Investment Guide for Long-term InvestorsLearn more: https://www.equilyst.com/invest/✅ Trade Setups for Short-term TradersLearn more: https://www.equilyst.com/trade/✅ Consultation in the Private Clients ForumLearn more: https://www.equilyst.com/mentor/We also encourage you to read our testimonials at https://www.equilyst.com/testimonials/.Subscribe below 👇🏿👇🏿👇🏿 https://www.equilyst.com/subscribe/https://www.equilyst.com/subscribe/https://www.equilyst.com/subscribe/
Posted by Equilyst Analytics on Thursday, April 11, 2019
If you don’t have PXP, don’t enter just yet. Wait for the dust to settle down. PXP may try to find a base near 7.60. But if no positive catalysts will become available once the price draws closer to 7.60, the downward pressure might continue all the way to 6.75.
Again, these are only data-driven probabilities. Make sure that you re-analyze or re-evaluate PXP to catch potential signs of a reversal of sentiment.
Please let me know in the comments below which part of my analysis did you find helpful the most.
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