End-of-Day Analysis
Int’l Container Terminal Services (ICT) gained 2.38% to close at ₱860.00 per share on October 21, 2026. The stock broke above its previous resistance of ₱850.30, establishing this level as its immediate support. The next immediate resistance stands at ₱936.10.
The upward movement was accompanied by trading volume exceeding 100% of both ICT’s 10-day and 50-day average volumes, lending support to the day’s bullish price action. Sustained buying activity and elevated volume in the next trading session could help propel the stock toward its immediate resistance.
Foreign investors also contributed to the day’s activity, with ICT recording net foreign buying of ₱131,643,725. This resulted from net foreign buying worth ₱1,672,847,595 against net foreign selling worth ₱1,541,203,870.
Dominant Range Index
- Dominant Range Index: BEARISH
- Last Price: 860
- Dominant Range: 848.00 – 852.00
- VWAP: 853.1115
Despite ICT’s positive price performance and close above its VWAP of 853.1115, the Dominant Range Index remained bearish. This divergence suggests that the day’s price appreciation was not accompanied by a sufficiently bullish distribution of trading activity under the index’s methodology.
The bearish reading stems from the concentration of trades and trading volume closer to the intraday low than to the intraday high, as illustrated in the chart above. This signals that underlying trading activity remains a point of caution despite the stock’s upward momentum.
Market Sentiment Index
- Market Sentiment Index: BEARISH
- 15 of the 44 participating brokers (34.09%) posted a positive Aggregate Net Amount.
- 16 of the 44 participating brokers (36.36%) posted a higher Per-Broker Buying Average than Per-Broker Selling Average.
- Aggregate Buying Average: ₱852.26871
- Aggregate Selling Average: ₱853.62953
- 3 out of 44 participants (6.82%) registered 100% Per-Broker BUYING activity.
- 11 out of 44 participants (25.00%) registered 100% Per-Broker SELLING activity.
The bearish Market Sentiment Index reinforces the caution indicated by ICT’s Dominant Range Index. The Aggregate Buying Average of ₱852.26871 remained below the Aggregate Selling Average of ₱853.62953, indicating that the average buying price was lower than the average selling price under the index’s measurements.
Broker participation also leaned toward selling at the extremes: 11 participants recorded 100% selling activity, compared with only 3 registering 100% buying activity. Furthermore, only 15 of the 44 participating brokers posted a positive Aggregate Net Amount, while 16 recorded a higher Per-Broker Buying Average than Per-Broker Selling Average.
Taken together, these readings present a mixed picture for ICT. Strong price appreciation, above-average volume, and net foreign buying support the bullish outlook, but the bearish Dominant Range and Market Sentiment indices suggest that underlying trading activity has yet to confirm the strength of the advance. Continued volume support and a sustained hold above ₱850.30 will be worth monitoring in the next trading session.
Verdict
If you already hold ICT shares and your paper loss remains within your predetermined risk limit, consider implementing a trailing stop to help manage your position. This allows you to protect accumulated gains while limiting potential losses based on a percentage consistent with your risk appetite.
If you do not yet have a position in ICT, you may consider a small test buy at its current price, provided it aligns with your risk tolerance. Alternatively, you may wait for both the Dominant Range Index and Market Sentiment Index to turn bullish before establishing a position. Confirmation from both indicators would provide a stronger data-driven basis for a bullish outlook, although it would not guarantee further price appreciation.
