JFC Technical Analysis: Are the Foreign Investors and Top 10 Brokers Buying Back?

JFC Technical Analysis

Jollibee Foods Corporation (JFC) closed at 232.20 per share, down by 1.28 percent, as of 12 noon of August 16, 2019.

Foreign investors are on a Net Foreign Selling worth P7.5 million.

Jollibee Foods Corporation (JFC) - Daily Chart Intraday 1 - 8.16.2019

Although the foreign investors ended the past two trading days in a Net Foreign Buying mode, you would need a magnifying glass to see their Net Foreign bar on the chart, so to speak.

In other words, you can still feel the hesitation on their part to buy back the dips by a significant level.

The immediate support remains at 220 while the immediate resistance is at 240.

My 10SMACD combo remains invalid. Based on my observation, this will only be revalidated once JFC breaks above the resistance at 220.

Does it mean it’s a buy-signal once it breaks above 220?

Don’t be too quick to decide. For one, I won’t entertain the idea of doing a test-buy unless the Momentum Power Indicator is bullish once it breaks above 220.

The downward momentum is still very strong as can be seen on the DMI and ADX charts.

The 10 SMA, MACD, and other momentum-checking indicators might be familiar to you, but I’d like to tell you that I use them differently. I have my own universe when it comes to using these indicators.

If you’d like to know my blueprint from stock selection to the execution of the trading plan, I’d like to invite you to attend my The Evergreen Strategy in Trading the Philippine Stock Market seminar tomorrow, August 17, 2019 (Saturday).

Venue: First Metro Investment Hub in Unit 1515 Ayala Tower One and Exchange Plaza, Ayala Avenue, Makati City

Here’s what you’ll learn:
Lesson 1: how to identify the best stocks to trade
Lesson 2: how to check if the current trend is more likely to continue
Lesson 3: how to know the true market sentiment
Lesson 4: how to identify a confirmed buy signal
Lesson 5: how to identify the best price range to trade
Lesson 6: how to sell more logically and less emotionally

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Makati - August 17, 2019 - The Evergreen Strategy in Trading the Philippine Stock Market Seminar

Trade-Volume Distribution

Last Price: 231.60
VWAP: 232.0098923
Most Traded: 231.6 – 232.2
Most Voluminous: 231.4 – 231.2

Jollibee Foods Corporation (JFC) - Trade Volume Distribution Intraday 1 - 8.16.2019

The dominant range in the first half of trading today is between 231.20 and 232.40. That range is closer to the intraday low than the intraday high. This means that the descent in price is still more likely to continue.

But don’t etch that on the stone yet. Like what I’ve been saying in my recent articles, some stocks are being force-closed during the market run-off period at their intraday high. I’m not saying this will certainly happen to JFC this afternoon. What I’m saying is that you should be in a wait-and-see mode on JFC, especially if you have the time to monitor the price movement of this stock by the second.

The foreign investors were on a Net Foreign Selling mode in the first half of trading yesterday on JFC, but they ended up in a Net Foreign Buying state although it’s a measly amount only. This is not far from happening again today. Again, be on a wait-and-see mode.

In tomorrow’s seminar, I will grill this topic so you won’t have to follow the Buy Below Price strategy anymore. I’ll also tell and prove to you WHY you should not do the peso-cost averaging, strategic averaging method, or whatever paraphrased versions of cost averaging.

True Market Sentiment

True Market Sentiment of JFC as of Aug-16-2019 at 12:00PM, with a last price of 231.600.
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
True Market Sentiment: NEUTRAL
Top 10 Players’ Buying Average: 232.0558
Top 10 Players’ Selling Average: 232.0313
Bonus Info:
11 out of 30 participants or 36.67% of all participants registered a 100% BUYING activity
3 out of 30 participants or 10.00% of all participants registered a 100% SELLING activity

Jollibee Foods Corporation (JFC) - True Market Sentiment Intraday 1 - 8.16.2019

JFC did not attract a significant volume in the first half of trading today. There were only 30 brokers who participated. I can still feel and see the lack of confidence of the majority of the top 10 brokers to buy the dips by a significant level.

Recommendations

Do not enter a new position on JFC yet until the 10SMACD combo becomes valid and the Momentum Power Indicator becomes bullish.

For those of you who already attended my The Evergreen Strategy in Trading the Philippine Stock Market seminar, I taught you when you can only skip the validation of the 10SMACD combo. There are two questions that require a “YES” answer so you can do a test-buy when the 10SMACD combo is invalid provided the Momentum Power Indicator is bullish.

If you already forgot what those two questions are, please check your handouts.

Those who are very keen to know what I’m talking about, you’ll learn all of these things tomorrow during the seminar.

Date: August 17, Saturday, 10am to 5pm
Venue: First Metro Investment Hub in Unit 1515 Ayala Tower One and Exchange Plaza, Ayala Avenue, Makati City

I still have 5 available seats. Click here to buy your ticket.

All 1-year subscribers of Equilyst Analytics get a 50% discount.

Click here to subscribe for 1 year so you can get a 50% discount on your ticket for this seminar.

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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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