SECB Technical Analysis
Security Bank Corporation (SECB) closed on Friday, August 9, 2019, at 193.50, up by 0.78 percent. Foreign investors were the major players as they registered a Net Foreign Buying worth P215 million.
Last Thursday, SECB broke above its resistance at 184.50, which is now acting as its immediate support. The new immediate resistance is at 213.50.
SECB’s three simple moving averages (10, 50, 200) are all aligned in a perfect bullish position with the short-term term ones hovering the long-term moving averages.
My 10SMACD combo was validated last Friday. My Momentum Power Indicator maintains its bullish status.
Did you attend my The Evergreen Strategy in Trading the Philippine Stock Market seminar?
If you did, you know what the validation of the 10SMACD combo and the bullish Momentum Power Indicator mean. Please refer to the handouts for a review.
RSI is still relatively distant from the classical overbought level. For me, this means SECB still has more gas to test the resistance at 213.50 provided the Momentum Power Indicator maintains its bullish rating. It would be even more bullish if the 10SMACD combo maintains its valid status.
SECB also has a low-risk level with its historical volatility score of 47 percent.
If you attended the stock market seminar I mentioned above, please review your notes for the percentage of historical volatility as to when you can call it low-risk, moderate-risk, high-risk and extremely high-risk level.
The +DMI also maintains its increasing gap above the -DMI. I can’t say that SECB already has a very strong upward momentum since ADX is still at 22 points. That’s self-explanatory for me since the price has just recently broken above 184.50 after playing below that price since September last year.
Trade-Volume Distribution
Last Price: 193.50
VWAP: 198.5983661
Most Traded: 199.5 – 201
Most Voluminous: 202 – 201
SECB had two dominant ranges last Friday. The first one is between 192 and 195. If SECB will start at a price higher than 195 on Tuesday, it might play actively between 199 and 202 again.
Whatever the case is, I still strongly suggest that you request for this stock’s updated Trade-Volume Distribution and True Market Sentiment charts in our Private Clients Forum if you’re an Equilyst Analytics subscriber. This is so we can update you of the latest dominant range and mood of the top 10 players on SECB.
True Market Sentiment
True Market Sentiment of SECB as of Aug-09-2019 at 03:30PM, with a last price of 193.500.
7 of the top 10 brokers registered a positive Net Amount
3 of the top 10 brokers registered a higher Buying Average than Selling Average
True Market Sentiment: NEUTRAL
Top 10 Players’ Buying Average: 198.1354
Top 10 Players’ Selling Average: 198.4176
Bonus Info:
3 out of 57 participants or 5.26% of all participants registered a 100% BUYING activity
30 out of 57 participants or 52.63% of all participants registered a 100% SELLING activity
The top 10 players last Friday were not that bullish on SECB. As you can see, the first dominant range was closer to the intraday low than the intraday high. There’s still a possibility for SECB to move sideways on Tuesday until the top 10 brokers register a bullish true market sentiment.
Eyes on your trailing stop loss.
Recommendations
Do you have SECB because the last price is still trading above your trailing stop loss? If yes, you have a data-driven reason either to hold or top up within the dominant range. Never ever imitate those who do cost averaging whose idea is to buy just because the stock is trading below the Buy Below Price. There’s no logic to that. You can do better than them if you’ll follow my logical advice.
Do you plan to enter a new position on SECB? You also have a data-driven reason to do a test-buy within the dominant range between 192 and 195 provided you’re satisfied with your reward-to-risk ratio.
Yes, new entrants have an extra process that must be done before pushing the buy button. That’s the calculation of your reward-to-risk ratio.
If you’re reading this analysis, I hope you’re a subscriber of Equilyst Analytics because I want you to request for SECB’s latest Trade-Volume Distribution and True Market Sentiment charts in our Private Clients Forum 1 to 3 minutes after the opening bell so we can show you the latest dominant range and mood of the top 10 brokers.
See you in Makati on August 17 (Saturday)
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