JFC: Enough Bullish Momentum to Hit 330 or a Pullback Near 281 Is Necessary?

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Jollibee Foods Corporation (JFC) started March 2018 with a (chicken)JOY! JFC hit the 300-per-share mark on 1 March 2018. This stock surprised its investors as it hit a new all-time high on 16 March 2018 when it closed at 305.40-apiece, a 7.54 percent day change.

Is JFC overbought or oversold already? I’ll tell you what I know.

The RSI and Stochastic of the daily chart show that JFC is neither overbought nor oversold. However, it’s overbought based on the weekly chart.

Where is JFC’s psychological resistance now that it has hit its all-time high? I like using Fibonacci to identify the stock’s psychological resistance after it hit a new all-time high. In this case, the psychological resistance is positioned near 330. That’s the 38.2 percent Fibonacci extension. The next resistance is 347 if it breaks out above 330.

JFC’s major support is near 281.00, which is in confluence with the 38.2 percent Fibonacci retracement. Refer to my chart below if you’d like to see deeper support levels based on the weekly chart using Fibonacci.

Jollibee Foods Corporation - Weekly Chart - 16 March 2018

Below is the 5 Minute chart of JFC. As you can see, it started at a higher price and moved sideways until 3:00 PM. Over a million shares were transacted around 3:20 PM. That made JFC’s price jump from 291 to 305.40 per share.

Jollibee Foods Corporation - 5 Minute Chart - 16 March 2018

My clients are ahead of you. Why?

Not all of our clients at Equilyst Analytics, Inc. (owner of Stock Signals Philippines) have access to their broker’s interactive charts that’s why I’ve created my proprietary Price-Volume Distribution chart. Through this, all they have to do is post a PVD chart request in our Private Clients Forum and we will update them with the latest PVD chart of any stock listed on the Philippine Stock Exchange.

In fact, this PVD chart is better than having access to an intraday chart. I’m saying this not because I am the author of this tool but because it’s easier to see the price points that got the highest volume compared to a plain intraday chart. The price points that got the most volume may act as support levels by the next trading day.

CLSA did a cross-trade for 300,000 shares at 305.40 per share at exactly 3:26:22 PM. Hence, I can say that the spike in volume that I showed on the 5 Minute chart of JFC is greatly influenced by CLSA’s transaction. You do not see that on the plain intraday chart of any stock. That’s another reason why our clients are at a great advantage to many retail investors.

Jollibee Foods Corporation - Price Volume Distribution - 16 March 2018

Are foreign investors heavily invested in JFC?

On a 30-day trading period, JFC is on a Net Foreign Buying worth PHP120,355,865.00.

Jollibee Foods Corporation - Foreign Fund Flow - 16 March 2018

Are the top 10 players bearish or bullish?

I’ll show you the sentiments of the top 10 players of JFC based on 3 different time frames. Access to this tool is another edge of our clients over many retail investors.

Not a single broker in the Philippines has the Price-Volume Distribution and Top 10 Players charts on their platforms.

Participants with a 100% Buying and Selling Activity from Mar-01-2018 to Mar-16-2018 at 03:30PM:

  • 17 out of 82 participants or 20.73% of all participants registered a 100% BUYING activity
  • 13 out of 82 participants or 15.85% of all participants registered a 100% SELLING activity
  • Top 10 Players’ Buying Average: 296.0254
  • Top 10 Players’ Selling Average: 295.5494

Jollibee Foods Corporation - Top 10 Players -1-16 March 2018

Participants with a 100% Buying and Selling Activity from Mar-12-2018 to Mar-16-2018 at 03:30PM:

  • 22 out of 67 participants or 32.84% of all participants registered a 100% BUYING activity
  • 6 out of 67 participants or 8.96% of all participants registered a 100% SELLING activity
  • Top 10 Players’ Buying Average: 290.4511
  • Top 10 Players’ Selling Average: 294.3734

Jollibee Foods Corporation - Top 10 Players -12-16 March 2018

Participants with a 100% Buying and Selling Activity as of Mar-16-2018 at 03:30PM:

  • 4 out of 38 participants or 10.53% of all participants registered a 100% BUYING activity
  • 10 out of 38 participants or 26.32% of all participants registered a 100% SELLING activity
  • Top 10 Players’ Buying Average: 296.3745
  • Top 10 Players’ Selling Average: 301.3498

Jollibee Foods Corporation - Top 10 Players -16 March 2018

What’s the risk level of JFC?

JFC is a low-risk stock according to my proprietary Risk Level calculator. This tool is very useful for my clients who are beginners in the stock market. You do not want to see yourself trading high-risk and extremely high-risk stocks if you’re a newbie.

Jollibee Foods Corporation - Risk Level - 16 March 2018Did I help you? The best way to express how I’ve helped you is by writing a testimonial for me. I get the motivation to continue doing this for you when you tell me that what I do is helpful to you. Click here to submit your testimonial.

Jaycee De Guzman

Jaycee De Guzman

I have helped thousands of Filipinos trade independently and invest profitably through the Equilyst Analytics, Inc. I have also helped hundreds of SMEs and Fortune 500 companies build and boost their online presence through iPresence Digital Marketing, Inc. Read my About Me page.
Jaycee De Guzman

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