DNL near major resistance

D&L Industries, Inc.

DNL is now near the major resistance area (around 12) after a two month uptrend.

Trading Plan
- Take profit or scale down position.
- Use trailing-stop on remaining position.
- Buy the breakout on good volume.

CLC Price Action Analysis

Chelsea Logistics Holdings Corp.

CLC is still in a downtrend but potentially forming a Bullish Divergence pattern if it continues to hold the immediate support area (around 8.29).

Trading Plan
- Potential buy at current level.
- Set a tight stop-loss on breakdown with volume from immediate support.

EDC price fluctuation vs tender offer price

Energy Development Corporation

With the recent announcement of a Voluntary Tender Offer for EDC Shareholders, price fluctuation below the tender offer price can potentially give an investor/trader a good gain in a relatively shorter period of time.

Tender Offer Details
- Tender Offer Price: P7.25 per share
- Offer Period: August 10 ~ September 18, 2017
- Closing/Cross/Settlement Date: September 29, 2017

Trading Plan
- Accumulate at below tender offer price with consideration of upside potential, sell to the market near offer price or higher.
- Participate in the tender offer if remaining position cannot be disposed off the market.

Consensus of stocks under the PSEi index

Source: First Metro Securities
https://www.firstmetrosec.com.ph/

August 4, 2017

PSEi Chart Update

Philippines Stock Exchange PSEi Index

- PSEi has retested the resistance zone around 8000~8100.
- Immediate support area remains at 7720~7780.
- Previous Bull Flag breakout pattern remains valid with projected target price around 8300. See previous chart update for reference:
https://psetrends.blogspot.com/2017/04/psei-chart-update-and-technical-analysis.html