Top Ten Smart Money Moves – July 13, 2018
Top Ten Smart Money Moves, starting January 2015, is the official trading newsletter of The Responsible Trader to promote his advocacy, Responsible Trading. This newsletter contains the previous day’s data from PSE, the Top Ten Foreign Buying and Selling, Top Ten in Total Traded Value, including Trading Notes based on the data of the previous day. This newsletter is given free to all the friends of The Responsible Trader and to members of the Facebook group and the other organizations where he is a member. For the previous issue where complete details about the newsletter was fully discussed, please refer to: Daily Top Tens October 17, 2014.
Trading Notes for Today – (Based on July 13, 2018 Data)
Total Traded Value – PhP 5.546 Billion – Low
Advances Declines – (Ideal is 2:1) 103 Advances vs. 91 Declines = 1.13:1 Neutral
Total Foreign Buying PhP 2.695 Billion
Total Foreign Selling – (PhP 2.733) Billion
Net Foreign Buying (Selling) (PhP 0.038) Billion – 7th day of Net Foreign Selling after a day of Net Foreign Buying
Data from the Philippine Stock Exchange
Screenshot courtesy of PSE.com.ph
PSE HEAT MAP
Screenshot courtesy of PSEGET
Top Ten Foreign Buying and Selling
Top Ten in Total Traded Value
Top Ten Gainers and Losers
From now on, I will just quote the related article from Business World so that we will have everything in one piece:
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Shares to move within tight range on thin volume
July 16, 2018 | 12:01 am
SHARE PRICES are seen to move within a narrow range in the week ahead, with analysts banking on an increase in trading volume for the main index to sustain its upward trajectory.
The 30-company Philippine Stock Exchange index (PSEi) gained 0.66% or 48.60 points to close at 7,399.18 on Friday, marking a 2.96% or 212.47-point improvement from the week before. Holding firms and financials supported the market last week, rising 4% and 3%, respectively.
Despite the increase, the PSEi still saw little participation as turnover only reached P24.59 billion, flat from a week ago. Foreign net selling reached P1.62 billion, slightly higher than the P1.59-billion net outflow recorded from July 2-6.
“The month of July is looking brighter and brighter as the index had another good week… We are looking at two scenarios next week. The first is that we start to see volume come in, and the index is going to try and test the next resistance at 7,500,” Eagle Equities, Inc. Research Head Christopher John Mangun said in a weekly market report.
Mr. Mangun noted that reaching the 7,500 resistance will confirm the PSEi’s reversal, as well as put an end to the bear market.
“The second scenario is that investors will take gains as several blue chips have gained 10% in the last two weeks and we will see the index come back down to support at 7,185… Based on the market sentiment, the latter scenario is more likely to take place. However, the pullback that we may see next week is a great opportunity for more investors to test the waters,” Mr. Mangun said.
Meanwhile, online brokerage 2TradeAsia.com said investors will focus on developments in the escalating trade war between the United States and China. US President Donald J. Trump last week announced additional dues on $200 billion worth of Chinese goods. China has yet to retaliate from this fresh round of tariffs.
“Resolutions that would put clearer guidelines in resolving the US-China trade row will be a boost for equities, having regressed from its recent high this year. This issue is something that investors will have to deal with on a daily basis, pending clearer outcomes of talks,” 2TradeAsia.com said.
It added that earnings results for the first half are soon to be released, advising investors to hunt for stocks with “good fundamental merits and solid upside potential.”
Eagle Equities’ Mr. Mangun expects support to be at 7,340 down to 7,185, while resistance could reach 7,400 to 7,500.
US stocks rose slightly on Friday, putting the S&P 500 at its highest closing level in more than five months, as gains in industrials and other areas offset a drop in financials after results from three of the big banks mostly disappointed.
The Dow Jones Industrial Average rose 94.52 points or 0.38% to 25,019.41; the S&P 500 gained 3.02 points or 0.11% to 2,801.31; and the Nasdaq Composite added 2.06 points or 0.03% to 7,825.98. — Arra B. Francia with Reuters
Source: http://bworldonline.com/shares-to-move-within-tight-range-on-thin-volume/
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Good luck on all your TRADES today.
DISCLAIMER There is a very high degree of risk involved in TRADING. Past results are not indicative of future returns. Nothing contained in this newsletter constitutes a solicitation, recommendation, PROMOTION or endorsement of any security. In accordance with the Responsible TRADER’s Creed: I will never tell and you take full responsibility for all your TRADING results
NOTES: Please take note of the following changes. Effective August 6, 2015: 1. Caption Market Breadth has been changed to Total Traded Value to simplify the presentation. 2. Market Breadth is expressed in terms of Number of Advances and Declines. Expressing this as a Ratio by using the larger number as Numerator we derive the Market Sentiment whether Bullish or Bearish. 3. Based on Past three-year data of Average Total Traded Values, following classifications will be used to make the presentation more relevant to present times. a. Low – Total Traded Value less than PhP 8 Billion b. Medium – Total Traded Value Php 8 Billion but not more than P15 Billion c. High – Total Traded Value more than Php 15 Billion.
Starting with August 11, 2017 data we are including the Top Ten Gainers and Losers for a more comprehensive coverage of significant stock movements during the day.