Technical Analysis
Xurpas seemed to have found its support at 0.91 when it hit that price last May 14, 2019. Its immediate resistance is at 1.35. In May 20, 2019, the conditions of my 10SMA-MACD combination were met. That was a buy signal.
Xurpas has been moving sideways since then. Despite its topsy-turvy movement, the MACD didn’t cross below the signal line. That was one reason to hold position but not to top-up yet.
The +DMI is still moving above the -DMI. The ADX is above 25 points. By classical definition, that setup gives Xurpas a “strong upward momentum” level. We cannot feel that classical translation due to the relatively low volume of Xurpas.
This stock is continues its ascent but it requires a lot of patience if you have this in your portfolio. Xurpas’ historical volatility score of 44 percent is a data-driven proof of its attempt to “organically” push its price towards the resistance level.
Trade-Volume Distribution Analysis
VWAP: 1.1608
Most Traded Prices: 1.16, 1.17, 1.15, 1.18, NA
Most Voluminous Prices: 1.16, 1.17, 1.15, 1.18, NA
As of the time of writing this post, my Trade-Volume Distribution chart shows that the dominant range is closer to the intraday low than the intraday high. We cannot expect a tall, green candlestick if this will continue until market closing. Nonetheless, the last price is moving above the volume weighted average price of 1.16. That means the bulls are not giving up yet, so to speak.
True Market Sentiment Analysis
Trading participants of X with a 100% Buying and Selling Activity as of Jul-04-2019 at 02:48PM:
5 of the top 10 brokers registered a positive Net Amount
3 of the top 10 brokers have a higher Buying Average than Selling Average
True Market Sentiment: Neutral
Top 10 Players’ Buying Average: 1.1606
Top 10 Players’ Selling Average: 1.1608
Bonus Info:
11 out of 24 participants or 45.83% of all participants registered a 100% BUYING activity
5 out of 24 participants or 20.83% of all participants registered a 100% SELLING activity
Meanwhile, my True Market Sentiment chart gives me a neutral sentiment based on the activities of the top 10 brokers. The “anemic” movement of prices of Xurpas is also captured by my True Market Sentiment analyzer.
Recommendations
If you have Xurpas and it’s moving above your trailing stop loss, I recommend that you hold your position, but do not top up yet. I do not recommend topping up yet because my 4-point criteria when topping up are not perfectly present yet.
If you do not have Xurpas but are planning to enter a new position, you may want to postpone that plan for now until the 4-point criteria become visible on the chart.
What are these 4-point criteria?
– the last candlestick must be green
– the last price must be above the VWAP
– the last volume bar must be green and higher than the 50% of the stock’s 10-day volume average
– the dominant range must be closer to the intraday high than the intraday low
Did you find this helpful? Please let me know in the comments. Thank you.
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