Wilcon Depot, Inc. (WLCON) is currently trading at 15.18 per share, down by 3.31 percent as of the time of writing this technical analysis.
The prevailing Net Foreign is a P48 million Net Foreign Selling.
Many traders were hoping to see WLCON bounce back above the previous support at 15.90 but the price has continued to move to the southward direction. Its previous support is now acting as its current resistance. The new support is near 14.
My 10SMACD combo is invalid. My Fantastic Four signals are absent. I am only interested to enter a new position in any stock if and when these signals are present. Only the subscribers of Equilyst Analytics and those who attended my The Evergreen Strategy in Trading the Philippine Stock Market seminar understand very well what these 10SMACD combo and Fantastic Four signals are.
Although the RSI has touched the classical oversold level already, I do not see signs of a reversal yet. As a matter-of-factly, the downard momentum is getting stronger although the DMI and ADX are not yet moving inside the confirmed “very strong downward momentum” category.
The risk level of WLCON remains low. However, please do not translate this as a sign that the stock is already too cheap to be ignored. By the looks of my indicators, the price could get cheaper than its prevailing price. Be careful.
Foreign investors have been bearish on WLCON since the first week of July 2019.
Trade-Volume Distribution
Last Price: 15.16
VWAP: 15.16366711
Most Traded: 15.04 – 15.1
Most Voluminous: 15.12 – 15.1
The dominant range is closer to the intraday low than the intraday high. This means the descent in price is still more likely to continue.
True Market Sentiment
True Market Sentiment of WLCON as of Jul-19-2019 at 02:32PM, with a last price of 15.1600.
4 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: BEARISH
Top 10 Players’ Buying Average: 15.1337
Top 10 Players’ Selling Average: 15.1442
Bonus Info:
30 out of 66 participants or 45.45% of all participants registered a 100% BUYING activity
4 out of 66 participants or 6.06% of all participants registered a 100% SELLING activity
The bearish true market sentiment of WLCON also agrees to my other bearish signals. In fact, the top 10 players’ selling average is higher than their buying average. This clearly shows that the majority of the top 10 brokers are not interested to buy the dips yet.
Recommendations
If you have been trading WLCON, please sell once your trailing stop loss gets hit. You’re not using a trailing stop loss? Here’s my advice for you.
Is your average price LOWER than the stock’s current price? If yes, calculate
your TSL from your stock’s current price. Let’s say you have a percentage of risk
of 5% and the current price is ₱100.00.
TSL = current price x (100 – percentage of risk tolerance)
TSL = ₱100.00 x (100 – 0.05)
TSL = ₱100.00 x 0.95
TSL = ₱95.00
Is your average HIGHER than the stock’s current price? If yes, calculate your
TSL from your average price. Let’s say you have a percentage of risk of 5% and
your average price is ₱120.00.
TSL = average price x (100 – percentage of risk tolerance)
TSL = ₱120.00 x (100 – 0.05)
TSL = ₱120.00 x 0.95
TSL = ₱114.00
If you do not have WLCON but you’re planning to trade it, please postpone that plan for now until the 10SMACD and Fantastic Four signals appear again. If you don’t know very well what these two are, I strongly suggest that you subscribe to Equilyst Analytics for 1 year so you can buy your ticket to The Evergreen Strategy in Trading the Philippine Stock Market seminar at a 50% discount.
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