PXP Technical Analysis: Are the Bulls in Full Control Already?

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PXP Energy Corporation (PSE:PXP) is priced at ₱12.74 per share, up by 3.58 percent, as of 03:30 PM GMT+8 on October 24, 2019.

The Total Turnover Value is at ₱33,335,552.00. The local traders are the main drivers of PXP today.

Foreign investors registered a Net Foreign Buying worth ₱1,000,538.00. They are net buyers year-to-date.

The immediate support is near ₱10.20, while the immediate resistance is near ₱13.60.

PXP Energy Corporation (PXP) - Daily Chart EOD - 10.24.2019

My 10SMA-MACD combo is bullish.

PXP’s risk level is low due to its historical volatility score of 28.91 percent. For new traders, I advise that you prioritize checking those stocks that have a low to moderate risk level.

Trade-Volume Distribution Analysis

Last Price: 12.74
VWAP: 12.703129
Most Traded: 12.74 – 12.68
Most Voluminous: 12.74 – 12.68

PXP Energy Corporation (PXP) - Trade and Volume distribution EOD - 10.24.2019

The Momentum Power Indicator of PXP is bullish because all 4 of 4 elements are bullish. The upward movement of the price is more than likely to continue as of the time of writing this analysis.

True Market Sentiment Analysis EOD

True Market Sentiment on PXP as of Oct-24-2019 at 03:30PM, with a last price of 12.7400.
True Market Sentiment: NEUTRAL
5 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: 12.6731
Top 10 Players’ Selling Average: 12.7145
Bonus Info:
7 out of 53 participants or 13.21% of all participants registered a 100% BUYING activity
25 out of 53 participants or 47.17% of all participants registered a 100% SELLING activity

PXP Energy Corporation (PXP) - Daily Chart True Market Sentiment EOD - 10.24.2019

True Market Sentiment Analysis MTD

True Market Sentiment on PXP from Oct-01-2019 to Oct-24-2019 at 03:30PM, with a last price of 12.7400.
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: 12.1495
Top 10 Players’ Selling Average: 12.1105
Bonus Info:
6 out of 78 participants or 7.69% of all participants registered a 100% BUYING activity
14 out of 78 participants or 17.95% of all participants registered a 100% SELLING activity

PXP Energy Corporation (PXP) - True Market Sentiment MTD - 10.24.2019

As far as my Evergreen Strategy is concerned, it’s a confirmed buy signal if the 10SMA-MACD and the Momentum Power Indicator are both bullish. The opposite is true if the 10SMA-MACD and Momentum Power Indicator are both bearish.

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.

After watching the video, you will know how to analyze exactly how I analyze. Click here for more information.

Recommendations

My first recommendation is for those who have PXP and a trailing stop that has not been hit yet. You have two logical options. It’s either you top up or hold your position. You have the technical go-signals to top up because the 10SMACD combo and the Momentum Power Indicator are both bullish. You also have a logical basis not to do anything but hold your position since its a neutral True Market Sentiment based on the EOD and MTD True Market Sentiment charts. I leave the decision to you. Base your decision on your risk appetite. I’ve interpreted the technicals to you already.

If you’re yet to enter a new position on PXP, know you must be satisfied by your reward-to-risk ratio before before you enter a new position within the dominant range I stated above. You may calculate your reward-to-risk ratio now since the 10SMACD and Momentum Power Indicator are bullish. Let me just remind you that the last price is a lot closer to the resistance than the support already. However, the acceptable reward-to-risk ratio will still be and will always be based on your own judgment.

There are calculators on our website at www.equilyst.com. Go to Resources and Tools.

If the +DMI and -DMI of PXP will continue to move in a parallel direction and if the ADX will maintain a score below 25 points until the end of October 2019, PXP will be more than likely to continue moving in a sideways direction.

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 alert of 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

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