CHP: Stay Above the Support at 3.64 or Wait Between 2.52 and 2.94

0
661

Cemex Holdings Philippines (CHP) is moving both inside the short-term and long-term bearish channel. What’s my basis? See the purple, red, and green Simple Moving Average (SMA) lines below. The short-term SMAs are below the longer-term SMAs of CHP.

The support at 3.64 has been tested several times since the last week of February 2018. CHP closed at 3.64 per share on 28 March 2018, down by 1.62 percent from its previous closing of 3.70.

The resistance is at 4.22, which is in confluence with the 38.2 percent Fibonacci retracement. Should CHP break below 4.22, its next support will be 2.94, which is the 38.2 percent Fibonacci extension. The third level of support is 2.52.

Cemex Holdings Philippines - Daily Chart - 28 March 2018

CHP is oversold based on the Stochastics Daily and MACD Daily. However, RSI seemingly gives CHP more room for a bearish price action for it to enter the confirmed bearish status as far as RSI’s classical interpretation is concerned.

I take the slim volume and the repeated testing of the support at 3.64 as signs of a consolidation period. I do not see any obvious sign of reversal. What I see is an indecision among traders.

I advise that you monitor the crossing of MACD with the signal line and the crossing of the share price above the 10SMA. Read this article if you want to know why.

As of March 28, 2018, at 03:30PM, the volume is 109.92% of the previous trading day.

I’ll repost my equations for price-volume correlation below for the benefit of my new followers and readers.

  • bullish price + high volume = high sustainability (price)
  • bullish price + low volume = low sustainability (price)
  • bearish price + high volume = high sustainability (price)
  • bearish price + low volume = low sustainability (price)

Cemex Holdings Philippines - Volume -28 March 2018

The majority of CHP’s trade was registered in the lower half of my Price-Volume Distribution chart. It’s either 3.64 will act as a support or the price will break below 3.64 on Monday.

Cemex Holdings Philippines - Price-Volume Distribution Chart - 28 March 2018

On a 30-day trading period, CHP is on a Net Foreign Selling worth PHP27,865,619.00. I still get a Net Foreign Selling whether I adjust the time period to 60 days or 90 days.

Cemex Holdings Philippines - Foreign Fund Flow - 28 March 2018

I see an overall bearish sentiment from both week-to-date and end-of-day Top 10 Players charts of CHP. It is important me to know the overall and individual buy and sell averages of all the top 10 players because it helps me see “where they meet each other.” It helps me see their common denominator.

If the buy average is very close to the closing price of the stock, it means the top 10 players are willing to average up. If the traders are willing to average up, that’s a sign of confidence.

On the other hand, if their buy average is relatively distant from the closing price, it could be taken as a sign of an indecision or low confidence to buy up the stock.

I like my Top 10 Players chart because it reveals to me the true sentiment of traders toward the stock.

Participants with a 100% Buying and Selling Activity from Mar-26-2018 to Mar-28-2018 at 03:30PM:

  • 13 out of 35 participants or 37.14% of all participants registered a 100% BUYING activity
  • 6 out of 35 participants or 17.14% of all participants registered a 100% SELLING activity
  • Top 10 Players’ Buying Average: 3.6788
  • Top 10 Players’ Selling Average: 3.6763

Cemex Holdings Philippines - Top 10 Players - 26-28 March 2018

Participants with a 100% Buying and Selling Activity as of Mar-28-2018 at 03:30PM:

  • 7 out of 24 participants or 29.17% of all participants registered a 100% BUYING activity
  • 6 out of 24 participants or 25.00% of all participants registered a 100% SELLING activity
  • Top 10 Players’ Buying Average: 3.6692
  • Top 10 Players’ Selling Average: 3.6867

Cemex Holdings Philippines - Top 10 Players - 28 March 2018

CHP is a moderate risk stock based on my Risk Level calculator.

Cemex Holdings Philippines - Risk Level - 28 March 2018

How can you get update you with all of these charts of your stocks and interpret them for you? I’ll give you some options.

Option 1: Subscribe to the Daily Stock Analysis of Equilyst Analytics, Inc. We will analyze 5 stocks for you from Monday to Friday (except on holidays). We include fundamental analysis and technical analysis. We include and interpret these charts above (and more).

Option 2: Subscribe to the Top 5 Gainers and Top 5 Losers Analysis of Equilyst Analytics, Inc. We will analyze the top 5 gainers and top 5 losers of the day from Monday to Friday (except on holidays). We include fundamental analysis and technical analysis. We include and interpret these charts above (and more).

Option 3: Subscribe to the Private Clients Forum of Equilyst Analytics, Inc. You can ask me and my team directly through our private forum. Before you execute your trade setup, request your stock’s Price-Volume Distribution, Top 10 Players, Risk Level, and other charts.

You’ve already seen the quality of analysis I’ve been giving away for free. You will get more than this when you subscribe to our services.

Use the promo code IC5OFFEAI to get 5% OFF. This promo code will work until 30 April 2018 only.

Would you like to be one of my clients? Here are 6 ways on how I can help you trade independently and invest profitably. If you find my free posts helpful, you’ll surely get more than this when you become one of our clients at Equilyst Analytics, Inc.

Did 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

Do you have a comment?