BLOOM Technical Analysis: Is This a Good Time to Do a Test-buy?

Bloomberry Resorts Corporation (PSE:BLOOM) is priced at ₱10.56 per share as of 03:30 PM GMT+8 on November 4, 2019. It is up by 5.71 percent.

The Total Turnover Value is at ₱132,938,600.00. The foreign traders are the main drivers of BLOOM today.

Bloomberry Resorts Corporation (BLOOM) - Daily Chart EOD - 11.4.2019

Foreign investors registered a Net Foreign Selling worth ₱36,960,512.00. They are net sellers year-to-date.

The immediate support is near ₱9.82, while the immediate resistance is near ₱12.00.

My 10SMACD combo is bearish.

BLOOM’s risk level is low due to its historical volatility score of 38.36 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: 10.56
VWAP: 10.274733
Most Traded: 10.28 – 10.14
Most Voluminous: 10.28 – 10.14

Bloomberry Resorts Corporation (BLOOM) - Trade Volume Distribution EOD - 11.4.2019

The Momentum Power Indicator of BLOOM is bullish because all 4 of 4 elements are bullish. However, 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 BLOOM as of Nov-04-2019 at 03:30PM, with a last price of 10.5600.
True Market Sentiment: NEUTRAL
5 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: 10.3712
Top 10 Players’ Selling Average: 10.3134
Bonus Info:
14 out of 52 participants or 26.92% of all participants registered a 100% BUYING activity
18 out of 52 participants or 34.62% of all participants registered a 100% SELLING activity

Bloomberry Resorts Corporation (BLOOM) - Trade Volume Distribution EOD - 11.4.2019

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

Even if the Momentum Power Indicator is bullish, the 10SMACD combo remains bearish. There is no confirmed buy signal yet based on our Evergreen Strategy. So if you have BLOOM because it’s still trading above your trailing stop, I advise that you hold your position but don’t top up yet. Consider topping up if and when both the 10SMACD and the Momentum Power Indicator are bullish. When that happens, top up within the dominant range only.

Today, half of the top 10 brokers unloaded their positions to lock-in profits. What’s the translation of that in layman’s terms? It means some of today’s top brokers decided to do the “sell on strength” strategy.

I also don’t see a reason for you to enter a new position. You’re better off waiting for a confirmed buy signal before you do a test-buy within the dominant range. Once both the 10SMACD and Momentum Power Indicators are bullish, calculate your reward-to-risk ratio first. I have a calculator for that. You’ll find it on our website under RESOURCES>TOOLS.

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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