FNI Technical Analysis: Is It Strong Enough to Break the ₱1.76-₱1.80 Range?

Global Ferronickel Holdings, Inc (PSE:FNI) is priced at ₱1.74 per share, up by 3.57 percent, as of 03:30 PM GMT+8 on October 29, 2019.

The Total Turnover Value is at ₱35,062,450.00. The local traders are the main drivers of FNI today.

Global Ferronickel Holdings, Inc (FNI) - Daily Chart EOD - 10.29.2019

Foreign investors registered a Net Foreign Selling worth ₱1,003,760.00. They are net buyers year-to-date, but their participation is insignificant.

The immediate support is near ₱1.65, while the immediate resistance is near ₱1.76.

My 10SMA-MACD combo is bullish.

FNI’s risk level is low due to its historical volatility score of 43.54 percent. For new traders, I advise that you prioritize checking those stocks that have a low to moderate risk level.

Trade-Volume Distribution Analysis

Last Price: 1.74
VWAP: 1.735249
Most Traded: 1.75 – 1.74
Most Voluminous: 1.75 – 1.74

Global Ferronickel Holdings, Inc (FNI) - Trade Volume Distribution as of EOD - 10.29.2019

The Momentum Power Indicator of FNI is bullish because all 4 of 4 elements are bullish. The upward movement of the price is more than likely to continue as of the time of writing this analysis.

True Market Sentiment Analysis – EOD

True Market Sentiment on FNI as of Oct-29-2019 at 03:30PM, with a last price of 1.7400.
True Market Sentiment: NEUTRAL
4 of the top 10 brokers registered a positive Net Amount
6 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: 1.7370
Top 10 Players’ Selling Average: 1.7366
Bonus Info:
7 out of 40 participants or 17.50% of all participants registered a 100% BUYING activity
12 out of 40 participants or 30.00% of all participants registered a 100% SELLING activity

Global Ferronickel Holdings, Inc (FNI) - True Market Sentiment EOD - 10.29.2019

The majority of the top 10 brokers are neutral on FNI.

True Market Sentiment Analysis – WTD

True Market Sentiment on FNI from Oct-28-2019 to Oct-29-2019 at 03:30PM, with a last price of 1.7400.
True Market Sentiment: NEUTRAL
4 of the top 10 brokers registered a positive Net Amount
6 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: 1.7360
Top 10 Players’ Selling Average: 1.7341
Bonus Info:
10 out of 44 participants or 22.73% of all participants registered a 100% BUYING activity
12 out of 44 participants or 27.27% of all participants registered a 100% SELLING activity

Global Ferronickel Holdings, Inc (FNI) - True Market Sentiment WTD - 10.29.2019

True Market Sentiment Analysis – MTD

True Market Sentiment on FNI from Oct-01-2019 to Oct-29-2019 at 03:30PM, with a last price of 1.7400.
True Market Sentiment: NEUTRAL
5 of the top 10 brokers registered a positive Net Amount
8 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: 1.6996
Top 10 Players’ Selling Average: 1.6915
Bonus Info:
8 out of 67 participants or 11.94% of all participants registered a 100% BUYING activity
12 out of 67 participants or 17.91% of all participants registered a 100% SELLING activity

Global Ferronickel Holdings, Inc (FNI) - True Market Sentiment MTD - 10.29.2019

Have you already watched the video-on-demand version of my Evergreen Strategy in Trading and Investing in the Philippine Stock Market? I discussed in that video how I find the best candidate stocks for your watchlist, how to know the true market sentiment, how to know if the trend is more than likely to continue, how to find confirmed buy signals, how to find the best price range where I buy, and how I sell more logically and less emotionally. After watching the video, you will know how to analyze exactly how I analyze. Click here for more information.

Recommendations

Assuming your trailing stop is still intact and you’d like to top up, you have data-driven reasons to top up within the dominant range since the 10SMA-MACD and Momentum Power Indicator are both bullish. Please make sure that you do an upward adjustment on your trailing stop every time the price goes higher. You may use my Trailing Stop Calculator.

However, it seems that our top 10 brokers don’t have the drive to push the price higher since the True Market Sentiment for all time frames (EOD, WTD, and MTD) is NEUTRAL. What does this mean? This means that they are still not sure whether it is time to push the price upward or remain trading within the range.

On the other hand, if you are planning to enter a new position, I suggest that you calculate your reward-to-risk ratio first. The confirmed buy signals are already present – bullish 10SMACD and Momentum Power Indicator. However, you must check first if the potential reward you’re vying for is bigger than the potential risk that’s hunting you down. You can use my Reward-to-Risk Ratio Calculator. If you’re happy with that ratio, then, you can test-buy within the dominant range. Calculate your trailing stop immediately once the stock enters your portfolio.

Regardless whether you already have a position on this stock or you’re yet to enter a new position, it’s best that you ask for our latest analysis and recommendation in our Private Clients Forum so we can tell you if the technical buy indicators are still intact. Also, this allows us to alert of you the newest dominant range of the stock so you can buy strategically. If you’re a subscriber of Equilyst Analytics, you have an access to our Private Clients Forum.

About the Author
Jaycee De Guzman is an online business strategist, an equity analyst, an entrepreneur, and a computer scientist by profession. Visit his website at www.jayceedeguzman.com.

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