Italpinas (IDC): What's Missing to Break Above 6.15 With Conviction?

You will say that Italpinas Development Corporation (IDC) is bullish if you’re vision is limited to the past 5 trading days. IDC is still in a bearish territory channel since it hit its all-time high at 13.09 per share last 10 November 2017.

My buy signal for IDC appeared last 2 April 2018. That was when the price closed above the 10SMA and MACD crossed above the signal line.

IDC reached the oversold level last week based on the classical interpretation of Stochastic’s value but it managed to recover and inch its way out of the oversold channel a bit. That rebound level near 4.85 acts as a support.

I’ve placed the immediate resistance near 6.15, which is in confluence with the 61.8 percent Fibonacci retracement. Please refer to the higher resistance levels and lower support levels on the chart below.

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Italpinas Development Corporation - Daily Chart - 4 April 2018

As of April 3, 2018, at 03:30PM, the volume is 66.54% 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)

Italpinas Development Corporation - Volume - 3 April 2018

IDC is a high-risk stock based on my Risk Level calculator. You can see the risk level of all stocks listed on the Philippine Stock Exchange in our Stock Ranking System. I personally use this tool BEFORE I construct my trade setup.

Subscribe to our Stock Ranking System if you’d like to save yourself sometime figuring out which stocks have the risk level that matches your risk tolerance.

Are you a beginner? I recommend that you check low- to moderate-risk stocks for a start.

Italpinas Development Corporation - Risk Level - 3 April 2018

On a 30-day trading period, IDC is on a Net Foreign Selling worth PHP63,441,686.00.

It’s a bullish signal if foreign investors are heavily-invested in a stock and the price is going up. However, if foreign investors do not have a significant trade in a stock, their participation does not have that much of a bearing on my investment decision.

We discuss the Foreign Fund Flow chart of a stock in our Daily Stock Analysis, Top 5 Gainers and Top 5 Losers Analysis, and Private Clients Forum. On the other hand, you do not have to request for your stock’s Foreign Fund Flow chart if you have already subscribed to our Stock Ranking System.

Italpinas Development Corporation - Foreign Fund Flow - 3 April 2018

My Top 10 Players chart for IDC as of recess suggests 6.00 as the best candidate for an entry price. That’s based on the buy and sell averages of IDC’s top 10 players this morning.

Every day, I post my insights for the trending stocks in our Private Clients Forum. I discuss the Price-Volume Distribution and Top 10 Players charts of those stocks.

Participants with a 100% Buying and Selling Activity as of Apr-04-2018 at 12:00PM:

  • 3 out of 39 participants or 7.69% of all participants registered a 100% BUYING activity
  • 17 out of 39 participants or 43.59% of all participants registered a 100% SELLING activity
  • Top 10 Players’ Buying Average: 6.0001
  • Top 10 Players’ Selling Average: 6.0153

Italpinas Development Corporation - Top 10 Players - 4 April 2018

In our Daily Stock Analysis service, not only will you see our end-of-day insights for the Top 10 Players of the stock but also the 2-month, month-to-date, and week-to-date data.

This is my proprietary Price-Volume Distribution chart. I can generate this for all stocks listed on the Philippine Stock Exchange.

IDC could play heavily between 6.00 and 6.10 when trading resumes this afternoon of 4 April 2018. If the sentiment this afternoon changes from bullish to bearish and the price starts to draw closer to 6.00, monitor the price near 5.90. In other words, watch out for the price points on my chart that have the biggest volume.

I do not need the intraday chart because of my PVD chart. If you’re my client and you have an access to our Private Clients Forum, always request your stock’s PVD chart before you execute your trade so you will know if you have the best candidate for a buying or selling price.

We include the PVD chart of the 5 daily stocks that we discuss in our Daily Stock Analysis.

Italpinas Development Corporation - Price Volume Distribution - 4 April 2018

If you were able to enter a new position on IDC yesterday or the day before yesterday, I suggest that you apply a trailing stop-loss so you are not stressing yourself out about where to sell. A trailing stop-loss protects your gains, preserves your capital, and prevents the occurrence of losses beyond your risk tolerance. Memorize those three Ps.

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Jaycee De Guzman

I am the founder and CEO of iPresence Digital Marketing, Inc. and Equilyst Analytics, Inc. At iPresence, we have been helping SMEs reach and dominate the global market through our digital marketing services since 2001. At Equilyst, we have been helping Filipinos experience a simplified and profitable stock trading and investing experience in the Philippine Stock Market since 2014.
Jaycee De Guzman

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