Technical Analysis – MER, EW, X – November 14, 2017

Manila Electric Company (MER) has just been added to the MSCI Global Standard Index causing a huge spike in the price today. MER actually gapped up today but as of writing, it is registering a doji. Its moving averages are bullishly aligned. Volume is also good and supports a bullish outlook. MACD is bullish. RSI is also bullish but has hit overbought levels. Support is estimated at 308.31 while resistance is expected at 317 followed by 325.

MER - Intraday Chart - November 14, 2017

Price-Volume Distribution

Majority of the volume was recorded at price 315.60. Majority of the trades were recorded at the same level. Current price is at 315.00.  This means that 315.60 is a significant level and may act as resistance intraday.

MER - Price Volume Distribution - November 14, 2017

East West Banking Corporation has just been added in the MSCI Global (Small Cap) and has caused a spike in the price. The stock gapped up and was able to break out of its range. The 15 EMA, 20 SMA, and 50 SMA are jointly acting as support for the stock. Volume is growing and supports a bullish outlook. MACD is bullish as well. RSI is also bullish and has hit overbought levels. Support is estimated at 33.71 while resistance is expected at 34.97.

EW - Intraday Chart - November 14, 2017

Price-Volume Distribution

Majority of the volume was recorded at price 34.50. Majority of the trades were recorded at the same level. Current price is at 3.60  This means that 34.50 is a significant level and may act as support or resistance intraday.

EW - Price Volume Distribution Intraday - November 14, 2017

Xurpas Inc (X) has just been removed from the MSCI Global (Small Cap) and has caused a downward spike in the price. X hit a new all-time low today but has so far protected the P4.00 level. All moving averages are still bearishly aligned with the 15 EMA and 20 SMA acting as resistance. Volume on the red candles is huge as well. MACD is bearish. RSI is also bearish. It’s oversold but can remain oversold for extended periods of time. Resistance is expected at 4.46 while we don’t have support since the stock is making new all-time lows.

X - Intraday Chart - November 14, 2017

Price-Volume Distribution

Majority of the volume was recorded at price 4.16 and 4.25. Majority of the trades were recorded at the same levels. Current price is at 4.10.  This means that 4.16 and 4.25 are significant level and may act as resistance intraday.

X - Price Volume Distribution Intraday - November 14, 2017

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

  1. Technical Analysis
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  7. Price-Volume Distribution Analysis
  8. Risk Level Analysis
  9. Analyst’s Overall Sentiment

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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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