$ALI

$ALI @ 31.70
 

$PSEi - Supports

Support 1 - 6,251

Historical Support 1 - 6,194

38.2% Fibonacci - 6,136

Support 2 - 5,890

50% Fibonacci - 5,724

Historical support 2 - 5,678

Historical Support 3 - 5,396

61.8% Fibonacci - 5,323

How to trade these supports? Consider these supports if you plan to pick up any index stock. Or better check the chart of the specific stock you want to pick and study its supports. This is where patience is tested. There are only 30 stocks in PSEi. Choose the one that outperforms the others. Potential candidates include $AGI, $FGEN, $ICT, and $LTG.  

 

$RCI

 

Analysis:

A/D - The price is static at the floor and at the same time A/D seems stable at the high. Does this suggest an existence of an ongoing accumulation?

PEI - Static too

RSI - Very weak @ 37.88

MACD - Also static

As for relevant information from public disclosure: 

• RCI signed a put option agreement for a maximum commitment of 800M as a fund-raising option.
• Restructuring existing loan agreements totaling 2.9B to provide stability and working capital for operation.
• Quarantine facilities.
• Coconut subsidiary achieved double digit revenue for the 3rd straight year.
• In organizational or leadership transition.

$FRUIT

 

Analysis:

EWT - Forming Wave 3

OLHC - With higher low and higher high

Volume - 8.02 million higher than previous trade

Psychology - No euphoria yet.