Nickel Asia Corporation (NIKL) – Analysis – February 23, 2017

Nickel Asia Corporation (PSE:NIKL) seems to be doing a retest of support at 6.56. That is also where 200 SMA is located and a possible strong one. If it breaches that level, a new wave of selling may again unfold. The next support level would be 6.27. Volume has been relatively thin for the past weeks since the major selling occurred. The 15 EMA and 20 SMA are pointing downwards and are acting as resistance. RSI is also pointing downwards signifying a bearish bias. MACD is also about to do a bearish crossover.

NIKL - Daily Chart - February 23, 2017

NIKL is trading at 37.84x annualized 2016 P/E and at 1.90x Price to Book which makes it still overvalued. NIKL is also down 17.79 percent year-to-date.

Volume

As of February 22, 2017, at 03:30PM, the volume is 134.45% of the previous trading day.

NIKL - Nickel Asia Corporation - Volume - February 23, 2017

Online Foreign Brokers

From January 12, 2017 to February 22, 2017, 11 out of 11 active online foreign brokers traded NIKL.
Online foreign brokers’ Buy Average: PHP6.87
Online foreign brokers’ Sell Average: PHP7.01
Number of net buyers among the participating online foreign brokers: 2 out of 11
CREDIT bought the biggest number of shares among online foreign brokers amounting to PHP20,272,979.00.
DEUTSCHE sold the biggest number of shares among online foreign brokers amounting to PHP110,268,388.00.

NIKL - Nickel Asia Corporation - Online Foreign Brokers' Transactions - February 23, 2017

Top 10 Players’ Sentiment

Participants with a 100% Buying and Selling Activity from Jan-12-2017 to Feb-22-2017 at 03:30PM:

11 out of 115 participants or 9.57% of all participants registered a 100% BUYING activity
8 out of 115 participants or 6.96% of all participants registered a 100% SELLING activity
Top 10 Players’ Buying Average: 7.7061
Top 10 Players’ Selling Average: 6.8630

NIKL - Nickel Asia Corporation - Top 10 Players Sentiment - February 23, 2017

Foreign Fund Flow

On a 30-day trading period, NIKL is on a Net Foreign Selling worth PHP250,424,331.00.

NIKL - Nickel Asia Corporation - Foreign Fund Flow - February 23, 2017

Risk Level

NIKL is a low-risk stock based on our proprietary risk level indicator. Please don’t take this as an absolute indicator of a stock’s risk level. We advise that you calculate your personal reward-to-risk ratio.

NIKL - Nickel Asia Corporation - Risk Level - February 23, 2017

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About the Author
The Stock Signals Philippines is the online news media arm of Equilyst Analytics. Inc., an SEC-registered stock market consultancy firm in the Philippines that guides Filipinos on long-term investing and short-term trading and offers mentoring services.

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