Philippines: Bank of the Philippine Islands (BPI:PS) Bullish Divergence

Philippines: Bank of the Philippine Islands (BPI:PS) Bullish Divergence

Philippines: Bank of the Philippine Islands (BPI:PS) Bullish Divergence

Overall, the bias in prices is: Downwards.

Note: this chart shows extraordinary price action to the downside.

By the way, prices are vulnerable to a correction towards 105.10.

The projected upper bound is: 106.16.

The projected lower bound is: 91.99.

The projected closing price is: 99.07.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 3 white candles and 6 black candles for a net of 3 black candles. During the past 50 bars, there have been 20 white candles and 28 black candles for a net of 8 black candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 82.8283. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 2 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 47.79. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 42 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 52. This is not a topping or bottoming area. The last signal was a buy 2 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 7 period(s) ago.

Rex Takasugi – TD Profile

BK OF PHI ISLAND closed up 2.400 at 99.400. Volume was 73% below average (consolidating) and Bollinger Bands were 16% narrower than normal.

Open High Low Close Volume___
97.050 99.500 96.500 99.400 512,420

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 98.08 104.38 104.47
Volatility: 44 43 32
Volume: 1,456,530 1,664,161 1,828,930

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

BK OF PHI ISLAND is currently 4.9% below its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of BPI.PS at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on BPI.PS and have had this outlook for the last 62 periods. Our momentum oscillator has set a new 14-period high while the security price has not. This is a bullish divergence.

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