Overview

ACEN price has been ranging from 6ish to 7ish for the past couple of days and now that price is hovering between the MAs 20 and 50, we pose the question to ourselves if it is a good time to buy?

To answer that, we will analyze the broker transactions to get the true sentiments of ACEN.

EOD | January 22, 2021

Although ACEN printed a red candle which is down by 2% last January 22, 2021, broker transaction tells us that its market sentiment is neither bearish or bullish.

Out of the 68 participants, 33 are net buyers and 35 are net sellers.

The top accumulators are COL, FIRSTMETRO, MACQUAR, BPI and F_YAP while the top distributors are BDO, YU, PHLSTOCK, AAA and MANDARIN.

End of Week| January 18 – 22, 2021

For this week, we can see that there are still brokers that are taking profits as 67 of them are net sellers for this week. At the same time, we can see some brokers are now starting to accumulate whereby 6 out of the 10 top brokers are now buying ACEN. For this week alone, JP Morgan accumulated 88.72M alone with an average of 6.53.

Last 30 days | Dec 22 – Jan 22, 2021

In a monthly perspective, we can see that COL, FIRST Metro, BDO and BPI accumulated a total of 1.07B while, TIMON, PHLSTOCK, ABACUS, ATR and MANDARIN disposed a total of 605M only.

On top of that, we don’t see a massive sell off from the top accumulators for the past couple of days as per below.

Technical analysis

The broker transactions matches the price action as ACEN is still trading in range. We want ACEN to consolidate above the long term support group otherwise, it may go down as low as MA100 or M200.

Verdict

ACEN’s true market sentiment is neutral basing on the 3 timeframes although, we need to keep ACEN on our watchlist as we can see buyers are already coming back.

If you do not have any position with ACEN yet, do not enter until a clear buy signal is exhibited.

We would like to hear from you.

Comment below for the next stock that you would like us to analyze the transaction of brokers.

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