AP Technical Analysis: Is ₱40.00 Too Thick to Break?

Aboitiz Power Corporation (PSE:AP) is priced at ₱39.15 per share as of 03:30 PM GMT+8 on November 6, 2019. It is down by 3.09 percent.

The Total Turnover Value is at ₱107,785,045.00. The foreign traders are the main drivers of AP today.

Aboitiz Power Corporation (AP) - Daily Chart EOD - 11.06.2019

Foreign investors registered a Net Foreign Selling worth ₱19,851,475.00. They are net buyers year-to-date.

The immediate support is near ₱38.00, while the immediate resistance is near ₱40.40.

My 10SMACD combo is bearish.

AP’s risk level is low due to its historical volatility score of 30.55 percent.

Trade-Volume Distribution Analysis

Last Price: 39.15
VWAP: 39.149007
Dominant Range: 39.00-39.25

Aboitiz Power Corporation (AP) - Trade Volume Distribution EOD - 11.06.2019

The Momentum Power Indicator of AP is bearish because all 4 elements are bearish.

It’s more than likely for the price to either move sideways or go down because the 10SMACD and the Momentum Power Indicator are not yet both bullish.

True Market Sentiment – EOD

True Market Sentiment on AP as of Nov-06-2019 at 03:30PM, with a last price of 39.1500.
True Market Sentiment: NEUTRAL
6 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: 39.1558
Top 10 Players’ Selling Average: 39.2081
Bonus Info:
10 out of 32 participants or 31.25% of all participants registered a 100% BUYING activity
6 out of 32 participants or 18.75% of all participants registered a 100% SELLING activity

Aboitiz Power Corporation (AP) - True Market Sentiment EOD - 11.06.2019

True Market Sentiment – WTD

True Market Sentiment on AP from Nov-04-2019 to Nov-06-2019 at 03:30PM, with a last price of 39.1500.
True Market Sentiment: NEUTRAL
6 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: 39.7170
Top 10 Players’ Selling Average: 39.7459
Bonus Info:
2 out of 51 participants or 3.92% of all participants registered a 100% BUYING activity
17 out of 51 participants or 33.33% of all participants registered a 100% SELLING activity

Aboitiz Power Corporation (AP) - True Market Sentiment WTD - 11.06.2019

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Recommendations

While AP is still trading inside the uptrend channel in the short-term, the presence of that red last candlestick, the red volume bar, and the position of the dominant range closer to the intraday low don’t suggest trading AP at this point.

If you have AP and if your trailing stop is still intact, it’s best that you hold your position or reduce the percentage of risk in your trailing stop. Try to use my Trailing Stop Calculator. It’s on our website at Resources>Tools.

If you don’t have AP but you’re planning to enter on a new position, I suggest that you wait for the 10SMACD and the Momentum Power Indicator to become bullish again. Add AP in your watchlist if you like, but don’t add it yet in your portfolio. There’s no confirmed buy signal yet. AP might re-test the support at ₱38.00.

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 enables us to tell 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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