After the Philippine stock market closed on Friday, 03 July 2020, we looked at the list of recommended stocks for long-term investing, and checked these with our short-term stock trading strategy for Monday, 06 July 2020.
Is there something worth buying? Let’s see.
While the stock in the 4th row of the Bo Sanchez’ Truly Rich Club table of stocks (as of July 3, 2020) is listed as Long-Term BUY, and even if the stock price has gone above the ALMA line, there’s a red candle as the price tried to go above the resistance. We’ll be watching the MACD line on July 6.
The stock in Row 13 has no Short-Term Sell signal yet. We’re waiting for the stock price to go below the ALMA line before we sell our shares. I’m tempted to buy some more because the MACD line is slightly crossing over and above the signal line, but the candlestick chart shows a bit of indecision as the stock price approaches a resistance level. What’s also keeping us from the Short-Term BUY is that the Long-Term recommendation is to SELL. This inconsistency between the Long-Term and Short-Term approaches makes us adopt a wait-and-see stance.
Row 14 has a Long-Term BUY recommendation, while the Short-Term reco is also BUY (given the acceptable price risk versus the ALMA line, and the MACD is practically crossing over and above the signal line. We’ll need to observe some more, though, as the price appears to be hitting against a resistance level.
Row 18 has a Long-Term BUY recommendation, but there’s no Short-Term Buy signal (since we bought this stock already on July 3).
Row 19 has a long-term recommendation to HOLD, but the short-term chart indicates that we’ll observe the MACD first, because it’s hovering below the signal line, although there is some slight movement upwards.
Outside of the standard table, we’re looking at 4 additional stocks, one of which may turn into a potential Short-Term BUY (using the MAMA Trading Strategy).