Puregold Price Club, Inc. (PSE:PGOLD) closed at 44.05 per share as of recess of April 26, 2019. The last price is below its Volume Weighted Average Price (VWAP) of 44.10. That is a bearish intraday signal. Support is near 42.15 while the resistance is near 44.30.
It’s been just the first-half of trading today but the intraday volume is already above its 10-day volume average. That red volume bar signifies that the selling sentiment is stronger than the buying sentiment.
It’s been three trading days that PGOLD has been trying to recover its position above 44.30 to no avail. This gives traders the impression that the resistance at 44.30 is relatively challenging to pierce.
PGOLD is relatively bearish in the short-term and long-term scales as far as the position of the last price below the shorter-term and longer-term Simple Moving Averages (SMAs) is concerned.
Meanwhile, foreign investors have already sold P10.7 million worth of shares as of recess. Foreign fundies have been selling PGOLD on a 9-day streak. Despite their 9-day bearish sentiment, they appear to be net buyers on PGOLD for 2019 YTD.
The most traded range is registered between 44.00 and 44.20. The majority of volume is printed closer to the intraday low than the intraday high. That’s a bearish signal.
- VWAP: 44.0122
- Most Traded Prices: 44.2, 44.15, 44.1, 44.05, 44
- Most Voluminous Prices: 44, 44.15, 44.05, 44.2, 44.1
On the other hand, 6 of the top 10 participants of PGOLD in the first-half of trading are bullish for having a positive total net value. Most likely, these are the new-entrants who spotted the previous support at 44.30 as an attractive buy-zone.
Top 10 Participants’ Sentiment
Trading participants of PGOLD with a 100% Buying and Selling Activity as of Apr-26-2019 at 12:00PM:
- 10 out of 24 participants or 41.67% of all participants registered a 100% BUYING activity
- 6 out of 24 participants or 25.00% of all participants registered a 100% SELLING activity
- Top 10 Players’ Buying Average: 44.1102
- Top 10 Players’ Selling Average: 44.0795
My overall sentiment on PGOLD is neutral to bearish. I might change this sentiment to a bullish one once the price breaks out above 44.30 with a green volume bar above its 10-day volume average.
The general rule of thumb if you already have the stock is to sell once your trailing stop loss is hit. Watch the video below if you have no idea what a trailing stop loss or if you’re still using a predefined target selling price.
Don’t enter just yet on PGOLD if you don’t have this issue in your portfolio. By the looks of my Trade-Volume Distribution chart, it’s more likely for the price to go down. Do a new trade-volume distribution analysis once you see signs of reversals such as these four below.
- green candlestick
- last price is above the VWAP
- volume is at least above the 50% of the 10-day volume average
- the most traded and most voluminous range is closer to the intraday high than the intraday low
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Please comment below if you find this helpful. Please let me know which part of my analysis did you find helpful the most.
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