Bank of the Philippine Islands (BPI) dropped sharply today as news about its stock rights offering came out. A total of 567,000,000 new shares is expected to be issued which will cause dilution to existing shareholders, thus the sell-off. BPI broke below all its moving averages with the 50 SMA and 200 SMA as resistance. Volume is quite heavy on the red candle today as well. MACD has made a bearish crossover. RSI is also bearish and is approaching oversold levels. Support is estimated at 99.68 while resistance is expected at 106.51.

BPI - Intraday Chart - January 18, 2018

Price-Volume Distribution

Majority of the volume was recorded at price 104. Majority of the trades were recorded at the same level. Current price is at 106.20. This means that 104 is a significant level and may act as support intraday.

BPI - Price Volume Intraday Chart - Janaury 18, 2018

Ayala Corporation (AC) continues to correct today but the bullish trend is still intact. The 20 SMA and 50 SMA are acting as support. Volume profile seems to support a bullish outlook. MACD is poised for a bearish crossover. RSI is also bearish but is near neutral levels. Support is estimated at 1029.86 followed by 1002.77 while resistance is expected at 1071.54 followed by 1093.77.

AC - Intraday Chart - January 18, 2018

Price-Volume Distribution

Majority of the volume was recorded at price 1040. Majority of the trades were recorded at the same level. Current price is at 1040. This means that this is a significant level and may act as support or resistance intraday.

AC - Price Volume Intraday Chart - Janaury 18, 2018

GT Capital Holdings Inc (GTCAP) continued its decline but has found support at our estimated support yesterday at 1321. The 20 SMA may act as support while the 15 EMA as resistance. Volume is starting to slow down as well. MACD has made a bearish crossover. RSI is also bearish but is at neutral levels. Support is estimated at 1321 followed by 1298.50 while resistance is expected at 1360.44.

GTCAP - Intraday Chart - January 18, 2018

Price-Volume Distribution

Majority of the volume was recorded at price 1320. Majority of the trades were recorded at the same level. Current price is at 1311. This means that 1320 is a significant level and may act as resistance intraday.

GTCAp - Price Volume Intraday Chart - Janaury 18, 2018

Stock Signals Philippines
Follow Us

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.