Analysis

DITO has been consolidating for the past couple of days however, there has been a heaving selling today which made the price break the short term support of P12.00.

Although DITO will launch its commercial operations this coming March, should we be concerned with the sell down? Is there something wrong with the technical audit which caused the price to go down?

Broker Transactions

In this post, we will look into the Broker’s transactions which may help us understand what’s really going on with DITO.

As of 11:24 AM Philippine time, out of 81 broker participants, 59 are buying and 22 are selling based on the net value.

As we can see, COL is the top seller with 50M value followed by CLSA 16M and ATR 12M.

Should we worry? Basing on the broker transactions, it very likely that DITO is still bullish as a lot of brokers are still accumulating the stock.

TOP 10 Brokers (Sell and Buy)

Click link to download all broker transactions for today.

As we can see on the accumulated net value for the past 30 days, COL has been buying the stock since December but started to sell on Jan 6. In today’s price movement, it’s COL that driving the stock to go down. Wealth, BDO, Firstmetro Securities and Regina have been accumulating the stock and there’s no significant heavy selling executed by these top brokers.

Now, what does this mean?

Basing on the chart, its very likely that DITO will go down as much as 10.15 or 8.51. We assume that bounce range is between these prices (10.15 and 8.51).

Pinoydesk is using Guppy moving averages to determine how strong the trend is. For the indicators, we use RSI, CHOP and MACD.

Although the short term investors’ (orange MAs) support have been broken, the long term group (blue MAs) are still expanding which indicates that trend is strong.

If you don’t have any position for DITO yet, we suggest to wait for the bounce range before entering.

If you are a short term trader, slice position, and re-enter on the bounce range area.

LEAVE A REPLY

Please enter your comment!
Please enter your name here