In the EquiTalks program, I discuss my analysis for a particular stock, and I give you my overall sentiment and recommendations or trade setups.
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We are on the 15th episode, and today, I’d like to talk about Anglo Philippine Holdings Corporation (APO).
APO has no dividend announcements per edge.com.ph.
APO Stock Chart
As of the time of checking, APO’s last price is at 0.88. It failed to sustain its ascent above the previous resistance at 1.14. It is now one fluctuation higher to the immediate support at 0.88.
I actually covered APO in my Top 5 Gainers and Top 5 Losers Analysis video for the Equilyst Analytics subscribers yesterday. I gave a warning that our clients should consider profit-taking near 1.14.
I also reminded them to either sell at once or in tranches or merely follow their trailing stop loss so that they won’t get wiped out too early in the game in case APO will do another ceiling play like how SOC (Socresources, Inc.) did one or two days ago.
The acting immediate support of APO is still at 0.88; resistance is at 1.14. But if APO will close below 0.88 today, then, 0.88 will act as its immediate resistance, while 0.72 will be its immediate support. Once again, that has been APO’s immediate support until Monday.
Today is a tall red candlestick, which came with a much taller volume than yesterday. It means that today’s volume is obviously above the 10-day volume average.
When I see a red candlestick with a volume that’s above the 10-day volume average, it means that the downward direction of the stock is more likely to continue.
For me, APO might just continue to move sideways — to keep trading the range as it has been this way for the longest time. That range is between 0.72 to 0.89.
I am not going to cite what I see on MACD because of the erratic fluctuation of the price. We are not going to see the “normalized” direction of the MACD line relative to the position of the signal line.
In the RSI, it already hit the overbought territory yesterday. That’s one signal I considered in giving my clients advice to consider making some profit-taking near 1.14.
Because of that erratic fluctuation, it elevated APO’s risk level from low to an extremely high-risk stock. Its historical volatility score is 282%.
Its last price is 0.88. The net foreign transaction is pegged at PHP360,000.00 worth of net foreign buying.
The last price is closer to the intraday low than to the intraday high. The range that got the biggest volume and the highest number of trades is between 0.88 all the way to 0.98.
There’s another range that got a relatively bigger volume and a higher number of trades, and that’s between 1.0 all the way to 1.05.
My Overall Sentiment
APO is bearish. Our clients should have already done some profit-taking yesterday or earlier this morning. My recommendation is to wait for the price the re-enter the 0.72-0.89 range. This stock might continue trading this range once it enters that zone.
So, don’t hurry. Don’t enter a new position just yet. Be on a wait and see mode. Lot’s of things might happen from here on so make sure that you re-evaluate.
Don’t forget to consider the prevailing volume before you come up with a final data-driven decision for your trades.
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Thank you for listening, watching, and reading our 15th EquiTalks episode. If you like this, please make a comment on YouTube, SoundCloud or wherever you are. You can also tell me which stock you’d like me to cover next.