Greenergy Holdings Technical Analysis
Greenergy Holdings, Inc. closed on February 18, 2021 at P4.38 per share with a Net Foreign Selling worth P2.16 million. Foreign investors’ participation in trading GREEN is relatively insignificant in size. So, I’m not going to highlight the foreign investors in my analysis.
Using a reversed Fibonacci, I say that the main support of GREEN sits near P3.75, confluent with the Fibonacci’s 61.80 percent retracement. The psychological resistance is near P5.40, confluent with the 61.80 percent extension of the reversed Fibonacci.
GREEN’s daily volume for the past seven trading days is relatively impressive because it’s been registering a daily volume higher than 100 percent of its prevailing 10-day volume average. This stock’s ascent is supported by volume.
Due to the engulfing candlesticks that GREEN has shown within the past 10 trading days, its 10-day historical volatility has reached 123 percent. That makes GREEN an extremely high-risk stock, erraticity-wise.
The bullish Directional Movement Index confirms GREEN’s strong upward momentum. The +DMI hovers the -DMI. The Average Directional Index seconds the motion as its breaches the 20-point mark.
The stock must have a bullish 10SMACD and Momentum Power Indicator for me to say that it has a confirmed buy signal. GREEN has a bullish 10SMACD. Let’s see in my Trade-Volume Distribution analysis if it has a bullish Momentum Power Indicator, too.
Trade-Volume Distribution Analysis
Last Price: ₱4.38
Intraday Low: ₱3.8600
Intraday High: ₱4.4400
VWAP: ₱4.2698
Dominant Range: ₱4.25 – ₱4.40
GREEN has a bullish Momentum Power Indicator also because all four elements of this indicator are bullish.
True Market Sentiment EOD – February 18, 2021
True Market Sentiment: NEUTRAL
6 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: ₱4.2552
Top 10 Players’ Selling Average: ₱4.2752
7 out of 63 participants, or 11.11% of all participants, registered a 100% BUYING activity
15 out of 63 participants, or 23.81% of all participants, registered a 100% SELLING activity
True Market Sentiment WTD – February 15-18, 2021
True Market Sentiment: NEUTRAL
8 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: ₱3.8448
Top 10 Players’ Selling Average: ₱3.8827
5 out of 83 participants, or 6.02% of all participants, registered a 100% BUYING activity
22 out of 83 participants, or 26.51% of all participants, registered a 100% SELLING activity
True Market Sentiment MTD – February 1-18, 2021
True Market Sentiment: NEUTRAL
7 of the top 10 brokers registered a positive Net Amount
4 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: ₱3.4488
Top 10 Players’ Selling Average: ₱3.5044
4 out of 86 participants, or 4.65% of all participants, registered a 100% BUYING activity
17 out of 86 participants or 19.77% of all participants registered a 100% SELLING activity
I see signs of caution on the neutral True Market Sentiment of GREEN across 3 timeframes. I find this self-explanatory because GREEN is on its new 52-week high. Usually, traders and investors are in an eavesdropping mode during this period. They’re temp-checking if there’s still a strong interest to buy the stock at a higher price. So, I strongly recommend that you also ask for the True Market Sentiment of the stock in our Private Clients Forum if you’re one of our clients before making a final trade or investment decision.
Recommendations
If you’re a beginner and have a low-risk level, I don’t recommend testing the river’s depth playing GREEN. Look for other stocks that have a 10-day historical volatility score of less than 50 percent. The reason why I’m saying this is that beginners are prone to make abrupt decisions when they see sudden or intermittent spikes in price action. Beginners are usually more emotional than logical. Don’t worry because you’ll reach the level of being in full control of your emotion when trading or investing through experience.
If you already have a base on GREEN, please make sure that you do an upward adjustment on your trailing stop. You may also top up within the dominant range if your buying power allows it. If the dominant range I wrote in this report doesn’t show within the first 3 to 5 minutes of the next trading day, ask for our latest Trade-Volume Distribution analysis in our Private Clients Forum if you’re one of our subscribers.
Feel free to use my trading calculators. You’ll find them on the LIBRARY section of this website inside the TOOLS tab.
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