Technical Analysis – SPC, SM, MRC – November 23, 2017

SPC Power Corporation (SPC) continues its uptrend after pausing for a day. The moving averages are bullishly aligned. Volume is still good and supports a bullish outlook. RSI is also bullish but is at overbought levels. Support is estimated at 6.51 followed by 6.01. Resistance is expected at 7.16.

SPC - Intraday Chart - November 22, 2017

Price-Volume Distribution

Majority of the volume was recorded at price 6.40. Majority of the trades were recorded at the same level. Current price is at 6.45.  This means that 6.40 is a significant level and may act as support intraday.

SPC - Price Volume Distribution - November 22, 2017

SM Investments Corporation (SM) is still consolidating inside a symmetrical triangle. The moving averages are bullishly aligned with the 15 EMA and 20 SMA acting as support. Volume is thin in support of a bullish outlook. MACD is bearish. RSI is at neutral levels. Support is estimated at 950 while resistance is expected at 990.

SM - Daily Chart - November 22, 2017

Price-Volume Distribution

Majority of the volume was recorded at price 973. Majority of the trades were recorded at the same level. Current price is at 970.  This means that 973 is a significant level and may act as resistance intraday.

SM - Price Volume Distribution - November 23, 2017

MRC Allied Incorporated (MRC) dropped today after recording a reversal candle. The 15 EMA and 20 SMA are bullish and has made a bullish crossover with the 50 SMA. Volume supports a bullish outlook. MACD is also bullish. RSI, however, is correcting after hitting overbought levels. Support is estimated at 0.365 while resistance is expected at 0.39 followed by 0.40.

MRC - Intraday Chart - November 22, 2017

Price-Volume Distribution

Majority of the volume was recorded at price 0.385. Majority of the trades were recorded at the same level. Current price is at 0.385.  This means that this is a significant level and may act as support or resistance intraday.

MRC - Price Volume Distribution - November 23, 2017 v2

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

  1. Technical Analysis
  2. Fundamental Analysis
  3. Volume Analysis
  4. Foreign Fund Flow Analysis
  5. Online Foreign Brokers Transaction Analysis
  6. Top 10 Players Analysis
  7. Price-Volume Distribution Analysis
  8. Risk Level Analysis
  9. Analyst’s Overall Sentiment

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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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