Universal Robina Corporation Technical Analysis
Universal Robina Corporation (PSE:URC) surged by 2.77 percent, closed at ₱130 per share, and printed a total turnover value worth nearly ₱328 million on March 19, 2021.
The local investors were the main drivers of the price action today. On the other hand, the foreign investors registered a net foreign selling worth nearly ₱16 million. They are net sellers year-to-date (YTD net foreign selling worth over ₱300 million).
Based on the horizontal lines I plotted, URC’s immediate support is near ₱120.00, while its immediate resistance is near ₱132.50. If you’re a fan of Fibonacci, the immediate resistance is confluent with the 23.60 percent retracement of the Down Fibonacci near ₱129.90. You will see the higher resistance levels using either horizontal lines or Fibonacci retracements on URC’s daily chart below.
I like how URC rose above its 10-day simple moving average (SMA) and how it surged higher than its 10-day volume average today. MACD’s golden cross above the signal line seconds the motion to that bullish signal.
Meanwhile, it seems that URC needs to break above the resistance confluent with the 38.20 percent retracement of the Down Fibonacci at ₱135.75 for the +DMI to register a golden cross above the -DMI to confirm the strong upward momentum of this stock.
As expected among index or blue-chip stocks, URC has a low sensitivity or risk level based on its 10-day historical volatility score of 38 percent. It remains a newbie-friendly stock. However, not because I said that it’s a newbie-friendly stock, it doesn’t mean you should buy the stock right away. There’s got to be a confirmed buy signal before buying the stock based on my Evergreen Strategy 2.0.
Dominant Range Index
Dominant Range Index: Bullish
Last Price: ₱130.00
Intraday Low: ₱126.4000
Intraday High: ₱130.5000
VWAP: ₱129.3426
Dominant Range: ₱129.80 – ₱130.00
Market Sentiment Index – EOD – March 19, 2021
Market Sentiment Index: NEUTRAL
6 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: ₱129.4560
Top 10 Players’ Selling Average: ₱129.6251
5 out of 48 participants, or 10.42% of all participants, registered a 100% BUYING activity
17 out of 48 participants, or 35.42% of all participants, registered a 100% SELLING activity
Market Sentiment Index – WTD – March 15-19, 2021
Market Sentiment Index: NEUTRAL
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
Top 10 Players’ Buying Average: ₱126.4690
Top 10 Players’ Selling Average: ₱126.0343
13 out of 66 participants, or 19.70% of all participants, registered a 100% BUYING activity
5 out of 66 participants, or 7.58% of all participants, registered a 100% SELLING activity
Market Sentiment Index – MTD – March 1-19, 2021
Market Sentiment Index: BULLISH
6 of the top 10 brokers registered a positive Net Amount
8 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: ₱128.8571
Top 10 Players’ Selling Average: ₱128.4431
25 out of 84 participants, or 29.76% of all participants, registered a 100% BUYING activity
3 out of 84 participants, or 3.57% of all participants, registered a 100% SELLING activity
Synthesis
URC has a confirmed buy signal based on my Evergreen Strategy 2.0.
Foreign brokers are the top participants of URC. Why is it so? I speculate that maybe it’s partly because it’s one of the 20 constituents of the MSCI Philippines Index (aside from it’s already given that foreign brokers are the top traders of blue-chip stocks).
If you’re a high-risk trader or investor, you may top or do a test-buy within the prevailing dominant range. However, if you are yet to do a test-buy, please calculate your initial trailing stop first. You can use my trading calculators (LIBRARY->TOOLS). If you’re satisfied with your reward-to-risk ratio, that’s the logical time for you to do a test-buy within the dominant range. If today’s dominant range doesn’t appear within the first three minutes of the next trading day, ask for URC’s latest Dominant Range Index in our Private Clients Forum (if you’re one of our clients).
If you’re a low-risk trader or investor, you may want to consider waiting for the prevailing (at least) Market Sentiment Index to turn bullish. If you’re one of our clients, you may ask for URC’s prevailing Market Sentiment Index in our Private Clients Forum.
If you already have a position on URC, and if your trailing stop is intact, it’s either you top up within the prevailing dominant range or hold your position. There’s no need to reduce the percentage of risk on your trailing stop since the three timeframes’ average Market Sentiment Index is neutral.
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