Latest posts by Jaycee De Guzman (see all)
Metro Pacific Investments Corporation (MPI) was moving sideways from 9:30 AM until that trend was broken around 1:45 PM. In my opinion, the negative 4.87 percent day change today has nothing to do with the P0.076 per share cash dividend with an Ex-Div Date on 23 March 2018.
The most recent news articles on MPI only talk about the super consortium project targetting the Ninoy Aquino International Airport.
So, what or who do you think drove the price of MPI to go bearish today?
What’s your guess? Anyone?
Okay. I’ll lead you to the answer.
This is the chart of MPI set on a monthly time frame. The immediate support is near 5.40 while the immediate resistance is near 5.82. The major support sits near 4.85 while the major resistance is positioned near 6.34. Refer to the other lines on my chart if you’re looking for deeper and further support and resistance levels, respectively.
I will give you the same numbers even if I’ll plot the chart of MPI on a weekly time frame. See the chart below.
If it had not been of the 4 million shares cross-traded around 3:20 PM at 5.47 per share, the strongest intraday support would have been in the 5.56-5.60 range.
Who did this huge cross trade? MANDARIN. This is a foreign broker.
I would say that a little over 10 percent of today’s Net Foreign Selling was due to MANDARIN’s 4 million cross-trade. Of course, that’s only my speculation because the Philippine Stock Exchange does not show the data of the brokers who contributed to the foreign transaction.
On a 30-day trading period, MPI is on a Net Foreign Selling worth PHP1,586,318,346.00.
In my month-to-date Top 10 Players chart, UBS and WEALTHSEC are the most bullish trading participants relative to their total turnover value. JPMORGAN, CREDIT, and MANDARIN are the most bearish relative to their total turnover value.
Participants with a 100% Buying and Selling Activity from Mar-01-2018 to Mar-12-2018 at 03:30PM:
- 29 out of 90 participants or 32.22% of all participants registered a 100% BUYING activity
- 4 out of 90 participants or 4.44% of all participants registered a 100% SELLING activity
- Top 10 Players’ Buying Average: 5.6824
- Top 10 Players’ Selling Average: 5.7119
Despite the bearishness of MPI today, 42 of 65 trade participants made a 100 percent buying transaction.
Participants with a 100% Buying and Selling Activity as of Mar-12-2018 at 03:30PM:
- 42 out of 65 participants or 64.62% of all participants registered a 100% BUYING activity
- 0 out of 65 participants or 0.00% of all participants registered a 100% SELLING activity
- Top 10 Players’ Buying Average: 5.5903
- Top 10 Players’ Selling Average: 5.6135
My Top 10 Players and my many proprietary tools help me see what one cannot see easily on the usual charts brokers offer to their clients.
Because of my Top 10 Players charts, I can see the overall sentiment of any stock on multiple time frames. I can also see their buying and selling averages. It reduces the difficulty in knowing where these big players have positioned themselves. I also see the main drivers of any stock at a glance.
MPI remains to be a low-risk stock. Beginners may consider securing a position on MPI. Just don’t ask me at what price you should buy because spoonfeeding is not good for you. All of us were born with the ability to rationalize. Let’s use it. Anyway, I’ve already given you so much information that you won’t find anywhere the way I’ve presented it to you. What else can you ask for? Keep in mind those minor and major support and resistance levels I’ve plotted on my chart. Consider the buy and sell averages of the top 10 players, too.
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