SSI Technical Analysis: Buy Despite the Lack of a Bullish True Market Sentiment?

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SSI Group, Inc. (PSE:SSI) is priced at ₱2.57 per share as of 12:00 PM GMT+8 on October 24, 2019. The last price remains unchanged from the previous trading day’s closing price.

The Total Turnover Value is at ₱2,775,920.00. The local traders are the main drivers of SSI today.

Foreign investors registered a Net Foreign Buying worth ₱309,060.00. They are net sellers year-to-date.

The immediate support is near ₱2.40, while the immediate resistance is near ₱2.94.

SSI Group (SSI) - Daily Chart 1 - 10.24.2019

My 10SMACD combo is bullish.

SSI’s risk level is low due to its historical volatility score of 37.8 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: 2.57
VWAP: 2.582251
Most Traded: 2.6 – 2.59
Most Voluminous: 2.6 – 2.59

The Momentum Power Indicator of SSI is bearish because only 3 of 4 elements are bullish. The downward movement of the price is more than likely to continue as of the time of writing this analysis.

SSI Group (SSI) - Trade Volume Distribution 1 - 10.24.2019

True Market Sentiment – Intraday

True Market Sentiment on SSI from Oct-01-2019 to Oct-23-2019 at 03:30PM, with a last price of 02.5700.
True Market Sentiment: NEUTRAL
3 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: 2.5876
Top 10 Players’ Selling Average: 2.5832
Bonus Info:
7 out of 17 participants or 41.18% of all participants registered a 100% BUYING activity
4 out of 17 participants or 23.53% of all participants registered a 100% SELLING activity

SSI Group (SSI) - True Market Sentiment Daily 1 - 10.24.2019

True Market Sentiment – WTD

True Market Sentiment on SSI from Oct-21-2019 to Oct-24-2019 at 12:00PM, with a last price of 02.5700.
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: 2.5909
Top 10 Players’ Selling Average: 2.6040
Bonus Info:
7 out of 35 participants or 20.00% of all participants registered a 100% BUYING activity
11 out of 35 participants or 31.43% of all participants registered a 100% SELLING activity

SSI Group (SSI) - True Market Sentiment WTD 1 - 10.24.2019

True Market Sentiment – MTD

True Market Sentiment on SSI from Oct-01-2019 to Oct-24-2019 at 12:00PM, with a last price of 02.5700.
True Market Sentiment: BEARISH
5 of the top 10 brokers registered a positive Net Amount
3 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: 2.5574
Top 10 Players’ Selling Average: 2.5778
Bonus Info:
14 out of 64 participants or 21.88% of all participants registered a 100% BUYING activity
9 out of 64 participants or 14.06% of all participants registered a 100% SELLING activity

SSI Group (SSI) - True Market Sentiment MTD 1 - 10.24.2019

As far as my Evergreen Strategy is concerned, it’s a confirmed buy signal if the 10SMACD and the Momentum Power Indicator are both bullish. The opposite is true if the 10SMACD and Momentum Power Indicator are both bearish. In the case of SSI, only the 10SMACD is bullish but not the Momentum Power Indicator. If you’re a subscriber of Equilyst Analytics, I suggest that you regularly request for our latest technical analysis on SSI in our Private Clients Forum so we can inform you if we’re seeing a confirmed buy signal already.

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

If you bought SSI when it was near ₱2.40 and if your trailing stop has not been hit yet, I recommend that you hold your position and do not top up yet. There’s no need to adjust the percentage of risk in your trailing stop since the prevailing volume is not in the red zone.

Don’t ignore the fact that the top 10 brokers of SSI did not register a bullish True Market Sentiment for the intraday, week-to-date, and month-to-date periods. That’s another point for the bears.

Top up within the dominant range if, and only if, the 10SMACD and Momentum Power Indicator are both bullish. Please make sure that you do an upward adjustment on your trailing stop every time the price goes higher. You may use my Trailing Stop Calculator.

If you are planning to enter a new position on this stock, I recommend that you wait for the Momentum Power Indicator to become bullish. When it comes bullish, check if the 10SMACD is still bullish. Ask us for an update in our Private Clients Forum if you’re one of our subscribers so we can guide every day. Once both indicators become bullish, calculate your reward-to-risk ratio. You can use my Reward-to-Risk Ratio Calculator. If you’re happy with that ratio, then, you can test-buy within the dominant range. Calculate your trailing stop immediately once the stock enters your portfolio.

Jaycee De Guzman

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