Technical Analysis – IDC, BKR, SCC – November 9, 2017

Italpinas Development Corporation (IDC) reached new highs again today after registering a doji yesterday. Using the intraday chart (5-minute), the stock is clearly bullish as it makes a new higher high and a new higher low. Moving averages are bullishly aligned with the 15 EMA and 20 SMA possibly acting as support. Volume profile still supports a bullish outlook. MACD is neutral. RSI is also neutral. Support is estimated at 12.12 while resistance is expected at 13.39.

IDC - 5-minute Chart - November 9, 2017

Price-Volume Distribution

Majority of the volume was recorded at price 12.00. Majority of the trades were recorded at the same level. Current price is at 13.68.  This means that 12.00 is a significant level and may act as support intraday.

IDC - Price Volume Distribution - November 9, 2017

Bright Kindle Resources (BKR) bounces after breaking below the 50 SMA. The 15 EMA and 20 SMA are also pointing downwards and is poised for a bearish crossover with the 50 SMA.  The 50 SMA is still acting as stiff resistance for the stock. Volume on the red candles is increasing as well. MACD is bearish while RSI is bullish but is still below neutral levels. Support is estimated at 2.12 followed by 1.90 while resistance is expected at 2.28.

BKR - Intraday Chart - November 9, 2017

Price-Volume Distribution

Majority of the volume was recorded at price 2.20. Majority of the trades were recorded at 2.18. Current price is at 2.15.  This means that 2.18 and 2.20 are significant levels and may act as resistance intraday.

BKR - Price Volume Distribution - November 8, 2017

Semirara Mining and Power Corp (SCC) broke down support and made another lower low over the past 6 months. The 200 SMA is still acting as support. The 15 EMA and 20 SMA are pointing downwards and are acting as resistance. Volume profile clearly supports a bearish stance. MACD is bearish. RSI is also bearish and is at oversold levels. Support is estimated at 39.29. Resistance is expected at 41.00.

SCC - Intraday Chart - November 9, 2017

Price-Volume Distribution

Majority of the volume was recorded at price 39.65. Majority of the trades were recorded at the same level. Current price is at 39.75.  This means that 39.65 is a significant level and may act as support intraday.

SCC - Price Volume Distribution - November 9, 2017

This intraday analysis is the free version of our premium Daily Stock Analysis service.  Our premium analysis has these components:

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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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