PXP Energy Corporation (PSE:PXP) was one of the top gainers today, closing at 3.42 or 6.21 percent.
The candle today shows a bullish engulfing candle and has closed a gap between 3.45 to 3.46. The stock, however, met its resistance at the 200-day moving average after its intraday high of 3.39 touched the 200-day SMA.
PXP is still on a downtrend channel after breaking down a descending triangle with a neckline at the 3.59 level. This level is also expected to act as a resistance if PXP will try to start an uptrend. For a more convincing uptrend,
For a more convincing uptrend, PXP must close above 3.81. If the slide continues, expect the immediate support to be around 3.09.
The weekly chart shows a bounce at the 50-day moving average. If the stock can at least hold, current levels would classify as a reversal candle with a pending confirmation next week.
Resistance and support levels are still the same as that of the daily chart.
From December 1, 2016 to December 20, 2016, 4 out of 11 active online foreign brokers traded PXP.
- Online foreign brokers’ Buy Average: PHP3.62
- Online foreign brokers’ Sell Average: PHP3.57
- Number of net buyers among the participating online foreign brokers: 3 out of 4
- HDI bought the biggest number of shares among online foreign brokers amounting to PHP2,829,200.00.
- HDI sold the biggest number of shares among online foreign brokers amounting to PHP2,677,330.00.
On a 30-day trading period, PXP is on a Net Foreign Buying worth PHP816,050.00.
Participants with a 100% Buying and Selling Activity from Dec-01-2016 to Dec-20-2016 at 03:30PM:
- 17 out of 84 participants or 20.24% of all participants registered a 100% BUYING activity
- 11 out of 84 participants or 13.10% of all participants registered a 100% SELLING activity
- Top 10 Players’ Buying Average: 3.6274
- Top 10 Players’ Selling Average: 3.6626
PXP has a moderate risk level based on our proprietary risk level indicator.
Do you find this analysis informative and helpful? If you do, please comment below or share this post.