Bloomberry Resorts Corporation (BLOOM) registered its new 3-year high on 16 March 2018 at 14.86 per share, a 9.26 percent Day Change. That is 412.41 percent growth since it hit 2.90 last 18 January 2016. Do you have BLOOM? Since when have you been trading it?
I gave my clients a trade setup for BLOOM sometime in 2015. I advised them to keep on topping up and averaging down since our buy case was still 80 percent true. Then, it hit 2.90 last 18 January 2016.
Note: A buy case is a list of reasons why you bought the stock. It can a list of reasons based on fundamental analysis, technical analysis, or other factors.
I kept on telling them, if they concur with my interpretation of the data that I presented, to grab the opportunity to accumulate BLOOM at a bargain price, especially if their reward-to-risk ratio suits their risk tolerance.
Some took my advice like a pill that’s too bitter to swallow. Some considered the advice. Some rebelled and walked with their placards in Mendiola. Haha. I also read in one forum saying that I knew nothing but to advise my clients that my buy case for BLOOM was still intact. Who’s your daddy now? 🙂
You should now understand what I mean every time I say that you should hold your position for as long as your buy case is intact or at least 80 percent true.
Stock investing looks difficult only in the beginning. Once you’ve learned the ropes, you realize that a profitable trade is about identifying your buy case before you add the stock to your portfolio.
I’ve pointed this out not to emphasize that I was right in my decision to invest in BLOOM. My one big message is trading with a buy case. Do not abandon your stock if your buy case is still 80 percent true.
Now, let’s talk about the technicals of BLOOM
This stock is closer to its resistance than to its support. Resistance is near 15.62 while support is near 8.70. Below is the monthly chart of BLOOM. On the monthly chart, my Stochastic shows that BLOOM is already in an overbought state. It’s the same thing if you adjust the chart to weekly. The simple moving averages are also aligned in a bullish pattern (shorter-term SMAs above the longer-term SMAs).
As of March 16, 2018, at 03:30PM, the volume is 505.42% of the previous trading day. I am not going to talk much about volume but I’ll remind you about these questions below.
- 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)
Are you wondering why 14.86 got this huge volume even if only 211 trades happened at this price? I’ll tell you why. SB Equities sold 2 million shares to CLSA at 14.86-apiece.
I advise that you closely monitor 14.86 on Monday. The price was at 14.14 before CLSA bought 2 million shares at 14.86 per share. If this spike in price was due to the transaction of one broker, it makes sense to monitor on Monday if the investors believe that it’s worth it to buy more of BLOOM above 14.86 with a significant volume.
On a 30-day trading period, BLOOM is on a Net Foreign Buying worth PHP2,039,688,152.00. I won’t show my 90-day Foreign Fund Flow chart but I’ll just say that there are only nine Net Foreign Selling bars when I pulled up my 90-day FFF chart. No need to ask me if foreign investors are loving BLOOM. The statistics I’ve shared with you can speak for itself.
I am not going to interpret my Top 10 Players charts on four different time frames. You can see the charts. As a bonus, I’ve given you the number of participants with 100 percent buying and selling activity together with the buy and sell averages of the top 10 players on their respective time frame. Pay attention to the buy and sell averages of those brokers with 100 percent buying or selling activity.
Participants with a 100% Buying and Selling Activity from Jan-19-2018 to Mar-16-2018 at 03:30PM:
- 0 out of 117 participants or 0.00% of all participants registered a 100% BUYING activity
- 20 out of 117 participants or 17.09% of all participants registered a 100% SELLING activity
- Top 10 Players’ Buying Average: 13.7642
- Top 10 Players’ Selling Average: 13.7219
Participants with a 100% Buying and Selling Activity from Mar-01-2018 to Mar-16-2018 at 03:30PM:
- 2 out of 100 participants or 2.00% of all participants registered a 100% BUYING activity
39 out of 100 participants or 39.00% of all participants registered a 100% SELLING
- Top 10 Players’ Buying Average: 14.2993
- Top 10 Players’ Selling Average: 14.2674
Participants with a 100% Buying and Selling Activity from Mar-12-2018 to Mar-16-2018 at 03:30PM:
- 8 out of 78 participants or 10.26% of all participants registered a 100% BUYING activity
- 24 out of 78 participants or 30.77% of all participants registered a 100% SELLING activity
- Top 10 Players’ Buying Average: 14.1772
- Top 10 Players’ Selling Average: 14.2588
Participants with a 100% Buying and Selling Activity as of Mar-16-2018 at 03:30PM:
- 2 out of 57 participants or 3.51% of all participants registered a 100% BUYING activity
- 31 out of 57 participants or 54.39% of all participants registered a 100% SELLING activity
- Top 10 Players’ Buying Average: 14.2722
- Top 10 Players’ Selling Average: 14.2084
BLOOM is a moderate risk stock based on my Risk Level calculator.
Do you think BLOOM will hold above 14.86 Towards 15.6 next week? Comment below. Let me know if you’re bearish or bullish on BLOOM.
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