Welcome to Episode 17 of our EquiTalks program.
You can still watch our previous episodes, listen to the podcasts, and read the case notes on our website at www.equilyst.com. Click on Learn; then you will see EquiTalks Video, EquiTalks Audio, and EquiTalks Note.
There’s an ex-dividend date of April 2, 2019, for 0.15 cash dividend.
If you’ve heard my general rule of thumb when it comes to dividend plays from the previous episodes, you should already know by now if you will get dividends if you are going to buy or sell on, before, or after the ex-dividend date.
In case this is your first time to listen to our EquiTalks program, I encourage you to listen to the previous episodes so that you can still catch that segment where I gave a piece of advice for those who would like to do some dividend plays.
BLOOM Stock Chart
BLOOM closed today at 11.68 (March 27, 2019). Support is at 11.12; resistance is at 12.99 or 13.
Today’s red candlestick went below the 10-day simple moving average, but it managed to stay above the 50-day SMA. We can say that BLOOM is already bearish in the short term, while it is still bullish in the medium and long term since it’s above the 50-day and 200-day SMAs.
Let’s take a look at the volume of BLOOM. This red candlestick has a volume that’s below its 10-day volume average. For this one, I would consider the possibility of the price of BLOOM moving sideways, maybe back and forth, from where it is right now all the way to 11.6.
In the next few days, we will continue to see red candlesticks. If the volume becomes greater than its 10-day volume average suddenly, then that would change the probability or will make our sentiment even more bearish.
When that happens, we have to keep an eye on the support at 11.12.
Net Foreign Trade
For 2019 trade, BLOOM is on a net foreign selling status.
MACD remains bearish for BLOOM on the daily chart. The stock has a volatility score of 25% for the daily as well. That gives the stock a low-risk level.
Price-Volume Distribution Analysis
The range that got the biggest volume is from 11.58 to 11.72. Meanwhile, the range that got the highest number of trades is between 11.60 to 11.72. It’s almost the same.
That range is closer to the intraday low than to the intraday high.
My Overall Sentiment
That gives me an overall bearish sentiment on BLOOM.
I encourage you to wait for the price to BLOOM to enter between 11.6 and 11.12. Perhaps, that would serve as the rebounding zone of BLOOM.
But then again, we need to re-evaluate when changes are spotted. We have to take another look at the registration of volume yet.
For now, I have a bearish sentiment on BLOOM. My recommendation is to wait for the price to enter the 11.12-11.60 zone.
It doesn’t mean you have to buy automatically when the price enters that level. I encourage you to re-evaluate the volume. If there’s a higher volume than the previous days, then you have to be bearish on your overall sentiment.
Wait for all the way to 11.12 or even lower, especially if the downtrend momentum continues.
There you go for my analysis, overall sentiment, and recommended trade setup for BLOOM. Of course, you already know that you have to stay on top of your trailing stop loss if you already have the stock.
If you’d like to know more about setting up your trailing stop loss, please watch or listen to the previous episodes of the EquiTalks program. I gave some tips on how you should calculate your trailing stop loss, especially if this is the first time you’ve heard of it.