PLDT, Inc. Technical Analysis
PLDT, Inc. (PSE:TEL) went up by 1.70 percent, closing at ₱1,313.00 per share, with a total turnover value worth ₱258.50 million on March 17, 2021.
It was a close fight between the local and foreign investors regarding who’s going to be the day’s main price driver. The local investors prevailed, leaving the foreign investors with a net foreign buying worth ₱84.40 million. Foreign investors are still net sellers year-to-date, however. Please note that the foreign investors are pretty consistent with their daily net selling since February 2021.
TEL’s moving above the immediate support at ₱1,278.00 and below the immediate resistance at ₱1,490.00.
TEL also managed to recover above its 10-day SMA after moving below it since Monday this week.
While TEL’s MACD is moving the signal line, its -DMI is still hovering its +DMI. On the other hand, I see the formation of a bullish convergence between the -DMI and the +DMI. TEL must move higher to turn that form into a confirmed bullish reversal as far as the DMI is concerned.
TEL is known for having a low sensitivity level in terms of the erraticity of its price action. As of today, it has a 10-day historical volatility score of nearly 31.50 percent. It’s still far from having a moderate sensitivity level. This means that no huge gaps were spotted, at least in the past 10 trading days. This stock remains a newbie-friendly stock, so to say.
Dominant Range Index
Dominant Range Index: Bullish
Last Price: ₱1,313.00
Intraday Low: ₱1,298.0000
Intraday High: ₱1,316.0000
VWAP: ₱1,308.1585
Dominant Range: ₱1,305.00 – ₱1,313.00
Market Sentiment Index – EOD – March 17, 2021
Market Sentiment Index: BEARISH
3 of the top 10 brokers registered a positive Net Amount
3 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: ₱1308.0088
Top 10 Players’ Selling Average: ₱1308.1944
6 out of 38 participants, or 15.79% of all participants, registered a 100% BUYING activity
12 out of 38 participants, or 31.58% of all participants, registered a 100% SELLING activity
Market Sentiment Index – WTD – March 15-17, 2021
Market Sentiment Index: BEARISH
4 of the top 10 brokers registered a positive Net Amount
2 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: ₱1288.7233
Top 10 Players’ Selling Average: ₱1293.9264
11 out of 62 participants, or 17.74% of all participants, registered a 100% BUYING activity
10 out of 62 participants, or 16.13% of all participants, registered a 100% SELLING activity
Market Sentiment Index – MTD – March 1-17, 2021
Market Sentiment Index: NEUTRAL
5 of the top 10 brokers registered a positive Net Amount
5 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: ₱1303.5532
Top 10 Players’ Selling Average: ₱1303.4178
23 out of 88 participants, or 26.14% of all participants, registered a 100% BUYING activity
4 out of 88 participants, or 4.55% of all participants, registered a 100% SELLING activity
Recommendations
TEL has a confirmed buy signal according to my Evergreen Strategy 2.0. But I suggest that you consider the neutral average Market Sentiment Index of the three timeframes in your decision.
Do you already have TEL? Is your trailing stop intact? If that’s your case, you may buy more shares within the prevailing dominant range. It’s also a valid reason to hold your position due to the three timeframes’ neutral average Market Sentiment Index.
You may also do a test-buy within the prevailing dominant range if you’re planning to add TEL to your portfolio.
If and when the prevailing dominant range of TEL doesn’t show up within the first 3 minutes of the next trading day, please request this stock’s latest dominant range in our Private Clients Forum (for our subscribers only). Take note that the stock’s dominant range is subject to change, and those changes sometimes happen every second.
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Systematic
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