FGEN Technical Analysis: Wait Near ₱24.00?

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First Gen Corporation (PSE:FGEN) is priced at ₱24.9 per share as of 03:30 PM GMT+8 on October 30, 2019. It is down by 2.73 percent.

The Total Turnover Value is at ₱71,748,415.00. The local traders are the main drivers of FGEN today.

First Gen Corporation (FGEN) - Daily Chart EOD - 10.30.2019

Foreign investors registered a Net Foreign Selling worth ₱7,868,215.00. They are net buyers year-to-date.

The immediate support is near ₱24.00, while the immediate resistance is near ₱27.00.

My 10SMACD combo is bullish.

FGEN’s risk level is low due to its historical volatility score of 25.03 percent.

Trade-Volume Distribution Analysis

Last Price: 24.9
VWAP: 25.413862
Most Traded: 25.05 – 25.6
Most Voluminous: 25.05 – 25.6

First Gen Corporation (FGEN) - Trade Volume Distribution EOD - 10.25.2019

The Momentum Power Indicator of FGEN is bearish because all 0 of 4 elements are bearish.

The downward movement of the price is more than likely to continue as of the time of writing this analysis.

True Market Sentiment – EOD

True Market Sentiment on FGEN as of Oct-30-2019 at 03:30PM, with a last price of 24.900.
True Market Sentiment: BEARISH
4 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: 25.2725
Top 10 Players’ Selling Average: 25.2380
Bonus Info:
10 out of 26 participants or 38.46% of all participants registered a 100% BUYING activity
4 out of 26 participants or 15.38% of all participants registered a 100% SELLING activity

First Gen Corporation (FGEN) - True Market Sentiment EOD - 10.25.2019

True Market Sentiment – WTD

True Market Sentiment on FGEN from Oct-28-2019 to Oct-30-2019 at 03:30PM, with a last price of 24.900.
True Market Sentiment: BEARISH
5 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: 25.3304
Top 10 Players’ Selling Average: 25.4330
Bonus Info:
6 out of 33 participants or 18.18% of all participants registered a 100% BUYING activity
10 out of 33 participants or 30.30% of all participants registered a 100% SELLING activity

First Gen Corporation (FGEN) - True Market Sentiment WTD - 10.25.2019

True Market Sentiment – MTD

True Market Sentiment on FGEN from Oct-01-2019 to Oct-30-2019 at 03:30PM, with a last price of 24.900.
True Market Sentiment: NEUTRAL
6 of the top 10 brokers registered a positive Net Amount
5 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: 24.8653
Top 10 Players’ Selling Average: 24.8880
Bonus Info:
5 out of 69 participants or 7.25% of all participants registered a 100% BUYING activity
15 out of 69 participants or 21.74% of all participants registered a 100% SELLING activity

First Gen Corporation (FGEN) - True Market Sentiment MTD - 10.25.2019

Have you already watched the video-on-demand version of my Evergreen Strategy in Trading and Investing in the Philippine Stock Market? I discussed in that video how I find the best candidate stocks for your watchlist, how to know the true market sentiment, how to know if the trend is more than likely to continue, how to find confirmed buy signals, how to find the best price range where I buy, and how I sell more logically and less emotionally.

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Recommendations

If you have a position on FGEN and if your trailing stop has not been hit yet, I suggest that you hold your position. Do not top up. There is no confirmed buy signal yet.

If you’ll see another red candlestick tomorrow, it’s best to reduce the percentage of risk on your trailing stop.

Moreover, please postpone any plans of entering a new position on FGEN. Again, there are no buy signals yet. The 10SMACD and Momentum Power Indicator are both bearish. FGEN is more than likely to retest the support at ₱24.00.

Regardless whether you already have a position on this stock or you’re yet to enter a new position, it’s best that you ask for our latest analysis and recommendation in our Private Clients Forum so we can tell you if the technical buy indicators are still intact. Also, this allows us to tell you the newest dominant range of the stock so you can buy strategically. If you’re a subscriber of Equilyst Analytics, you have an access to our Private Clients Forum.

You can use my calculators, which you’ll find at RESOURCES>TOOLS on our website.

Jaycee De Guzman

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