MWC Stock Analysis: Buy It Now or Wait for a Breakout Above ₱19.67?

Manila Water Company, Inc. (PSE:MWC) is priced at ₱18.7 per share as of 03:30 PM GMT+8 on November 29, 2019. It is up by 1.08 percent.

The Total Turnover Value is at ₱27,691,040.00. The foreign traders are the main drivers of MWC today.

Foreign investors registered a Net Foreign Selling worth ₱3,541,738.00. They are net sellers year-to-date.

The immediate support is near ₱17.80, while the immediate resistance is near ₱19.67.

My 10SMACD combo is bearish.

MWC’s risk level is low due to its historical volatility score of 26.62 percent.

Trade-Volume Distribution Analysis

Last Price: ₱18.7
VWAP: ₱18.70511
Dominant Range: ₱18.66 – ₱18.76

The Momentum Power Indicator of MWC is bearish because only 2 of 4 elements are bullish.

True Market Sentiment – EOD

True Market Sentiment on MWC as of Nov-29-2019 at 03:30PM, with a last price of ₱18.70
True Market Sentiment: BULLISH
6 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: ₱18.7496
Top 10 Players’ Selling Average: ₱18.7656
Bonus Info:
4 out of 21 participants or 19.05% of all participants registered a 100% BUYING activity
8 out of 21 participants or 38.10% of all participants registered a 100% SELLING activity

True Market Sentiment – WTD

True Market Sentiment on MWC from Nov-25-2019 to Nov-29-2019 at 03:30PM, with a last price of ₱18.70
True Market Sentiment: NEUTRAL
5 of the top 10 brokers registered a positive Net Amount
7 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: ₱18.3404
Top 10 Players’ Selling Average: ₱18.3096
Bonus Info:
17 out of 45 participants or 37.78% of all participants registered a 100% BUYING activity
10 out of 45 participants or 22.22% of all participants registered a 100% SELLING activity

True Market Sentiment – MTD

True Market Sentiment on MWC from Nov-04-2019 to Nov-29-2019 at 03:30PM, with a last price of ₱18.70
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: ₱18.9378
Top 10 Players’ Selling Average: ₱18.9472
Bonus Info:
25 out of 69 participants or 36.23% of all participants registered a 100% BUYING activity
7 out of 69 participants or 10.14% of all participants registered a 100% SELLING activity

Recommendations

Do you have MWC in your portfolio already?

No confirmed buy signal has appeared on MWC since July 2019. So, if you’re like me who applies a maximum of 10 percent risk percentage when I do short-term trading, your trailing stop must have already been hit in the first week of August 2019.

If you’re going to tell me that you have had MWC since before July this year, that’ll make it hard to believe that you’re respecting your risk tolerance.  The rule of thumb is to follow your trailing stop. Wait for both 10SMACD and Momentum Power Indicator to become bullish before consider buying MWC again.

You don’t have MWC yet but are you planning to enter a new position?

MWC has a lot of resistance levels to break for the bulls to regain their previous glory. So, even if the last price is already trading above the 10-day simple moving average, I would still suggest that you wait for both the 10SMACD and Momentum Power Indicator to become bullish.

Besides, why don’t you notice the week-to-date True Market Sentiment. Despite the upward-moving price for the past three trading days, the True Market Sentiment week-to-date failed to hit the bullish mark.

It’s better if you’re a subscriber of Equilyst Analytics so we can guide you further. When you’re our subscriber, you can ask us for our latest analysis and recommendation in our Private Clients Forum as trading happens.

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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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