MWIDE Technical Analysis: Wise Men Say Only Fools Rush In

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Megawide Construction Corporation (PSE:MWIDE) is priced at ₱17.12 per share as of 03:30 PM GMT+8 on November 7, 2019. It is down by 3.82 percent.

The Total Turnover Value is at ₱42,857,952.00. The local traders are the main drivers of MWIDE today.

Foreign investors registered a Net Foreign Selling worth ₱23,443,932.00. They are net sellers year-to-date.

The immediate support is near ₱16.55, while the immediate resistance is near ₱18.74.

My 10SMACD combo is bearish.

MWIDE’s risk level is low due to its historical volatility score of 33 percent.

Trade-Volume Distribution Analysis

Last Price: ₱17.12
VWAP: ₱17.178913
Dominant Range: ₱17.12 – ₱17.20

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

It’s more than likely for the price to either move sideways or go down because the 10SMACD and the Momentum Power Indicator are not yet both bullish.

Megawide Construction Corporation (MWIDE) - Trade Volume Distribution EOD - 11.06.2019

True Market Sentiment – EOD

True Market Sentiment on MWIDE as of Nov-07-2019 at 03:30PM, with a last price of ₱17.1200.
True Market Sentiment: NEUTRAL
5 of the top 10 brokers registered a positive Net Amount
6 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: ₱17.1920
Top 10 Players’ Selling Average: ₱17.1748
Bonus Info:
21 out of 32 participants or 65.63% of all participants registered a 100% BUYING activity
2 out of 32 participants or 6.25% of all participants registered a 100% SELLING activity

Megawide Construction Corporation (MWIDE) - True Market Sentiment EOD - 11.06.2019

True Market Sentiment – WTD

True Market Sentiment on MWIDE from Nov-04-2019 to Nov-07-2019 at 03:30PM, with a last price of ₱17.1200.
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: ₱17.3926
Top 10 Players’ Selling Average: ₱17.3771
Bonus Info:
18 out of 38 participants or 47.37% of all participants registered a 100% BUYING activity
3 out of 38 participants or 7.89% of all participants registered a 100% SELLING activity

Megawide Construction Corporation (MWIDE) - True Market Sentiment WTD - 11.06.2019

Recommendations

Looking at the bearish rating of our 10SMACD and Momentum Power Indicator, the downward momentum will likely test or break the support at ₱16.55. If you’re still holding your position on MWIDE, I recommend that you reduce the percentage of risk in your trailing stop. Use my Trailing Stop Calculator. It’s on this website: Resources>Tools.

Did you read the bearish 10SMACD and Momentum Power Indicator I mentioned above? It’s a sign that MWIDE is more than likely to re-test the support at ₱16.55. I find the “buying the dips” strategy as a non-sense thing to do as of today’s data.

If you’re one of those who are anticipating a chance to enter a new position, don’t hurry. It’s not yet the logical time for you to do a test-buy. Stop brainwashing yourself by saying “it’s already too cheap to ignore”. The cheap could get cheaper. Learn how to check if the decided sellers have reached an exhaustion level. You’ll learn that in Lesson # 2 of my Evergreen Strategy in Trading and Investing in the Philippine Stock Market Video-On-Demand.

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 enables 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.

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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