$FRUIT ended the week with a volume 6.68 million higher than yesterday's trade. RSI is bullish @ 50.19. Though the stock made a new low, but it also created a higher high and the good thing is that it closed near the high. MFI too for the last three days was below 20, which is considered oversold. Today, it shifted to 31.46. Though the stock is still in a downtrend, but its A/D line is rising. This could be an early sign of reversal.
9 comments:
Another wrong entry. The stock is going nowhere. I should stop picking stocks at the bottom. Wait for a confirmed trend reversal by seeing a series of higher lows and highs.
With higher low and higher high. Volume is 1.85 M higher. Wait for another candle for a buy signal.
With a volume 8.52 million higher, the stock made a higher low and a higher high for the second day. Is this a false signal?
Still a "wait and see" stock for today's price action is almost similar as yesterday's. Nothing significant except that the volume is 460k shares higher. The real low is 1.20 with 2.6 million volume. 1.19 is an anomaly for one trader is too afraid thinking that the stock will return to its base and so he sold his 15k shares. The real high is 1.23 with 5.2 million volume.
Patiently climbing up. Volume is a little bit lower than yesterday, but the stock closed strong @ 1.26 with 5.5 million volume. Yesterday, such strength was shown @ 1.23 with 5.2 million volume. Let me include a little fundamental data here from the publication of AP Securities, Inc. shared by John Mangun last night. Four key takeaways: (1) strong cash position at P680 M as of 1H20, (2) Adapting to the new normal, FRUIT is resorting to a take-out and delivery hub store approach and looking for acquisition of other brands at a discount resulting from the current crisis. (3) FRUIT’s recent acquisitions: Sabroso Lechon (4x increase in revenues since acquisition), Heat Stroke Grill, Kuxina Ihaw Na! and The Tofu Store, (4) Target price @ 1.53 per share.
Though the volume is 6.37 million lower, the stock managed to make a higher low and a higher high. Just like last 21 October, the low today is anomalous for only one trader sold his 1k shares. Price supporters of this stock are patient. After touching 1.28 during the opening, the stock stayed @ 1.25 almost the whole day but just like last Friday, it suddenly closed with a higher price @ 1.27.
Price supporters of this stock was overwhelmed by bears today. It appears that sellers are just waiting for the right time with a little higher price to get out. This is what they call "sell on strength" for the dominant sentiment is still bearish. Volume is 14.94 million higher. A higher volume during down days and a lower volume during up days are usually taken as negative. Looking at the stock using Fibonacci retracement, 1.20 is the 61.8% of the short run from 1.15 to 1.28. If the price tomorrow will revisit and break 1.20, more bears will exit this stock.
The price action of this stock is disappointing. After making a higher high, it revisited its yesterday's low @ 1.20. Though there are more buyers above 1.24, it requires a lot of patience and emotional strength to hold on to this stock. Today's price bar does not provide clear indication as to the direction of the stock; its neutral.
The price action of this stock is disappointing. After making a higher high yesterday, it revisited 1.20 twice. Holding this stock requires a lot of patience and emotional strength. Yesterday's price bar did not provide any clear indication as to the direction of the stock; its neutral. Today, the stock closed near the low.
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