KPPI Technical Analysis: Is the Psychological Resistance at 26 Breachable?

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KPPI Technical Analysis- Is the Psychological Resistance at 26 Breachable?

KPPI Technical Analysis

Kepwealth Property Phils. (KPPI) closed at 18.32 per share, up by 49.92 percent, as of Thursday, August 22, 2019. Total Turnover Value reached almost P560 million. Local investors were the main mover of KPPI.

Just like the past two trading days since it debuted in the Philippine Stock Exchange, KPPI is not a favorite of the foreign investors. Today, foreign fundies registered a Net Foreign Selling worth P755,334.00. Foreign investors registered a Total Turnover Value of less than P6 million on KPPI only.

Kepwealth Property Phils. (KPPI) - Daily Chart EOD - 8.22.2019

Disclosure: I have been trading KPPI. I mentioned that also on my first two analyses of this stock.

August 19, 2019 – Kepwealth (KPPI) Technical Analysis: Can Strike Above 8.50 Tomorrow?

August 20, 2019 – Kepwealth Property Phils. (KPPI) Technical Analysis: Does It Still Have Gas to Break 11.20 Today?

I don’t check intraday charts except in the case of IPO stocks. I use the 3-minute intraday chart at least for the first two weeks of trading of a newly-debuted company.

One of the things I’ve noticed on KPPI is that the biggest volume is registered within the first 60 minutes of trading. That’s when the foundation of the upward momentum is being built.

I also see some huge volume spikes in the afternoon, but it doesn’t last for more than an hour.

Last Tuesday, the volume of KPPI spiked between 2:00PM and 2:50PM. Today, the volume spiked between 1:40PM and 1:50PM.

On my 3-minute intraday chart, the immediate support is pegged at 17.30 as a precursor to 15.80. It goes without saying that its resistance is at 18.32 as precursor to 26.00, which is in confluence with the 61.8 percent extension of my Up Fibonacci.

I am not going to comment about what I see on my MACD, RSI, Historical Volatility, and DMI charts because I don’t find it applicable, at least, for the first 30 trading days of KPPI. I said “trading days” and not “calendar days.”

You and I may be using the exact same indicators, but I know you can’t connect to what I’m saying sometimes because I have my own way of interpreting data. Why don’t you try attending one of learning events called The Evergreen Strategy in Trading and Investing in the Philippine Stock Market seminar?

I’ll teach you the A to Z of what I do in the stock market, which is applicable when you do short-term trading and long-term investing.

Lesson 1: how to identify the best stocks to trade
Lesson 2: how to check if the current trend is more likely to continue
Lesson 3: how to know the true market sentiment
Lesson 4: how to identify a confirmed buy signal
Lesson 5: how to identify the best price range to trade
Lesson 6: how to sell more logically and less emotionally

Here’s the schedule:

Trade-Volume Distribution

Last Price: 18.32
VWAP: 16.63274754
Most Traded: 17.2 – 17
Most Voluminous: 18.3 – 17

KPPI was force-closed today at its intraday high of 18.32.

If it goes below 18 per share on Friday, it might play actively between 16 and 17.50.

But if you’re a subscriber of Equilyst Analytics, tomorrow, I strongly suggest that you request for this stock’s latest Trade-Volume Distribution and True Market Sentiment charts in our Private Clients Forum any time during the trading hours. My team is on a standby mode waiting for your questions in the forum.

Nonetheless, my Momentum Power Indicator is bullish on KPPI.

To those who attended my The Evergreen Strategy in Trading and Investing in the Philippine Stock Market seminar, I have removed one of the four parameters of my Momentum Power Indicator since it’s not applicable in the case of an IPO stock until its done on its 10th trading day.

Kepwealth Property Phils. (KPPI) - Trade Volume Distribution EOD 1 - 8.22.2019

True Market Sentiment

True Market Sentiment of KPPI as of Aug-22-2019 at 03:30PM, with a last price of 18.3200.
7 of the top 10 brokers registered a positive Net Amount
5 of the top 10 brokers registered a higher Buying Average than Selling Average
True Market Sentiment: NEUTRAL
Top 10 Players’ Buying Average: 16.7142
Top 10 Players’ Selling Average: 16.6152
Bonus Info:
3 out of 74 participants or 4.05% of all participants registered a 100% BUYING activity
9 out of 74 participants or 12.16% of all participants registered a 100% SELLING activity

The top 10 brokers have a neutral stance on KPPI. This is the reason why I have been only day-trading KPPI, but by a huge volume (buying within the day, selling within the day also).

Kepwealth Property Phils (KPPI) - True Market Sentiment EOD 1 - 8.22.2019

Recommendations

I will just copy and paste the recommendations I wrote in my previous analysis of KPPI.

If you are holding on your KPPI and your trailing stop loss has not been hit yet, you have data-driven reasons to top up within the dominant range. It’s up to you if you just want to hold your position. Just make sure you do an upward adjustment on your trailing stop loss just like how I taught you in Lesson # 6 of The Evergreen Strategy in Trading and Investing in the Philippine Stock Market seminar.

If you don’t have KPPI, please make sure you calculate your reward-to-risk ratio first. That’s in Lesson # 6 of The Evergreen Strategy in Trading the Philippine Stock Market seminar also. Please review your handouts. Even if the Momentum Power Indicator is bullish, you should only enter a new position (test-buy) if you are satisfied with your reward-to-risk ratio with respect to the distance of the current price to its immediate support and resistance levels.

My overall sentiment is bullish on Kepwealth Property Phils. (KPPI).

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Jaycee De Guzman

Jaycee Silverio de Guzman is a computer scientist by profession. He is the founder and CEO of iPresence Digital Marketing, Inc. and Equilyst Analytics, Inc. He is a husband and a father.
Jaycee De Guzman

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