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PSE Stock: D&L INDUSTRIES, INC. (DNL)

anidiottrader · 51 · 23294

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Reply #15 on: Apr 04, 2013, 05:09 PM
As what we have said before that DNL needs a new support line because the 6.50 is too far and everytime DNL will have a rally it gets tired when it reach 7.0 Today's candlestick shows a possible reversal from the 4-day decline. What we have right now looks like a Gravestone Doji formation which is has a medium reliability. This formation tells us that after the selling pressure the bears began to get tired and we felt the presence of the bulls. If there will be a bounce from this level, this might developed to be a support level above the 23.6% Fibonacci Retracement level. Lets see how this will progress. If things get bad, 6.5 is our support.

Caveat!

Constructing new support for DNL


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Reply #16 on: Apr 24, 2013, 06:21 PM
DNL gaps up at the opening and bulls began to rally but around 11 AM the selling pressure began to be felt. It went back to its previous price and then turned red until the closing. The movement today showed some bearish sentiment. Candlestick pattern showed a Dark Cloud Cover which is a quite strong bearish reversal pattern. The support at 7.20 was broken at the closing but this could be because of some panic selling at the closing. The 7.17 is still within the area of support but since we have a bearish signal, it is very important to check your trading plan. Psychological support at 7.0 may also hold so as the 20-day SMA line.

Caveat!

Dark Cloud Cover on DNL



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Reply #17 on: May 27, 2013, 08:08 PM
DNL went down as far as 8.00 but recovered a bit to close at 8.10 per share. Unlike other stocks that went down, DNL seemed to have a good support at 20-day SMA as of now. In case our index will continue to go down, this stock may be affected as well. Strong support that I can see for DNL as of now is quite low around 7.2 The support is quite low because DNL has been going up for quite sometime now and no big correction happened. But if the 20-day SMA will hold, this level might be developed into a strong support soon.

Caveat!

20-day SMA line stops DNL price to go down.


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Reply #18 on: Jun 05, 2013, 05:51 PM
DNL is down by 6.63% this week and is currently about to hit 23.6% Fibonacci Retracement level. This line doesn't really act as resistance before unlike the line found around 7.20 where it act as resistance for 4 times before it was broken. This line should be stronger than the found at 23.6%. With our stock market on bearish sentiment, this line could be broken easily.

Caveat!

D&L INDUSTRIES, INC. (DNL)


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Reply #19 on: Jun 06, 2013, 04:50 PM
DNL fell hard in the morning session but somehow recovered hitting as high as 7.95. Although it close unchanged, the bulls showed some muscle by bringing the price up. The price movement created a Long legged Doji which is regarded as a low reliability reversal candlestick. Since this is just a lone candlestick we need a confirmation on the next trading day by way of a gap up at the opening or a large green candlestick. Good volume will also be a plus so we can tell that bulls are really present.

In case price will move down, 7.20 is still our good support.

Caveat!

Long-legged Doji on DNL


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Reply #20 on: Aug 04, 2013, 05:08 PM
The support of DNL at 38.2% Fibonacci Retracement level failed to protect DNL as it fell by 2.59% last Friday. The 20-day SMA line failed as well. There is no signal from our candlestick of possible reversal as of this time. This might touch 6.50 unless the bulls will show some of their might.

Caveat!

Bears break the 38.2% Fibonacci Retracement level on DNL


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Reply #21 on: Sep 09, 2013, 05:09 PM
DNL continue to trade inside the 50% and 61.8% Fibonacci Retracement levels with the possibility of touching the support again. With the continuing drop, our concern is, will the support hold? Last two weeks ago we saw a low reliability reversal pattern and was not confirmed. It seems that bearish sentiment is quite strong for DNL at this time.

Caveat!

DNL not good yet?


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Reply #22 on: Oct 08, 2013, 08:33 PM
DNL is up by 3.29% today showing disinterest to the possible reversal cued by the Doji candlestick. The Kumo which acted as a resistance zone was not match for the bulls toady as it pierced through it. Based on Ichimoku system this is a bullish move. It also broke the 61.8% Fibonacci Retracement level which acted as another resistance (now considered our immediate support). Based on our upward channel where DNL is currently trading, there is still room for it to move up. Will it hit 7.20 soon?

By the way RSI or Relative Strength Index is now entering the overbought level.

Caveat!

DNL following the upward channel


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Reply #23 on: Oct 16, 2013, 07:40 PM
While DNL following the upward channel, it is now approaching the lower slope or our support line. Will it bounce after touching?

The price of DNL is still above the Kumo or cloud which means the bullish sentiment is still there and while the Tenkan Sen is acting as another support line it seems weak. In case it will continue to dip tomorrow, our support lines will be the lower slope and the Kijun Sen. So far no signal from the candlestick for reversal but a hammer or an engulfing pattern tomorrow may signal a reversal. Let us see the action tomorrow.

Caveat!

DNL retracing, will it bounce on support line?


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Reply #24 on: Nov 17, 2013, 12:23 PM
Is the 3rd Q report OK and promising for DNL? PaTulong na man po sa mga FA dyan.. I'm looking to position on this company for mid - long term.. Thanks!

<a href="http://www.pse.com.ph/resource/corpt/2013/DNL_17Q_Sep2013.pdf ">DNL_3rd_Quarter_Report</a>
« Last Edit: Nov 17, 2013, 12:34 PM by buloi123 »


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Reply #25 on: Dec 18, 2013, 10:27 PM
Has DNL bottomed out already at 6.0 ha is now ready for a reversal or it is just a 1 day wonder? Today we have seen DNL's volume which is very big. Does ATR knows something that we don't? Just like BLOOM, DNL has been falling for few weeks now and finally we see a large green candlestick which could be a signal for reversal. Resistance is around 6.30 where Kijun Sen line is. If this will be broken, next resistance will be the Kumo or Cloud. As of this time, all elements from Ichimoku system is still in red. Be cautious if you want to enter because it might not be sustain its rally.

Caveat!

Bottom for DNL?


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Reply #26 on: Jan 01, 2014, 01:59 PM
We saw the Bottom for DNL last December 18 and so far price has remained above the Kijun Sen line.

Based on Ichimoku, DNL is showing a weak bullish signal when price crosses the Kijun Sen line (red line on our chart). It is WEAK (with emphasis) because it happened below the Kumo.

Observe also that the 6.40 or the 78.6% Fibonacci Retracement level was a strong resistance last December 19 preventing the price from crossing. There is a bigger chance DNL will try one more time to break that wall. In case it will be successful then our next resistance might be at 6.50

You may test the water for DNL but careful with the Kijun Sen cross (price crossing the red line from above), because this will wipe out the weak bullish signal we saw and price may revisit 6.0 again.

Trade within your comfort zone and don't chase the price.

Caveat!

DNL eyeing to break the 78.6% Fibonacci Retracement level?


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Reply #27 on: Jan 12, 2014, 06:49 PM
DNL has gone up from 5.98 to 6.49 within the 4-week span but looked tired after the spikes. Will it continue to move upward or retrace? Based on weekly chart, we see a bearish candlestick called Doji. This candlestick suggests that after few days of going up, the bulls and the bears are in equilibrium. Since it is not a strong bearish indicator we may need to see a confirmation via long red candlestick or a gap down. But so far there is also another reason why we have to be wary about DNL. The current candlestick is on the resistance level which is the 50% Fibonacci Retracement level and the Kumo or cloud.

If the bears will succeed this week then we might see DNL back to 5.96 If that will happen then we are seeing a Descending Triangle.

The descending triangle is a bearish formation that usually forms during a downtrend as a continuation pattern. There are instances when descending triangles form as reversal patterns at the end of an uptrend, but they are typically continuation patterns. Regardless of where they form, descending triangles are bearish patterns that indicate distribution. -stockcharts.com

Caveat!

DNL may develop a Descending Triangle. Price currently at resistance



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Reply #28 on: Jan 16, 2014, 11:01 PM
DNL refuses to go back to the support level of the Descending Triangle and instead break from the resistance slope. It was last weekend that we thought DNL will retrace and confirm the Doji candlestick found on our weekly chart (see post here http://www.traderslogbook.com/dnl-may-develop-a-descending-triangle-price-currently-at-resistance/). I think there is no more chance for the Doji on weekly chart to be confirmed since we only have 1 more day left and so far it is a long green candlestick. This means that DNL will continue to move upward.

I think DNL will continue to move upward but it can't go up in a straight line. We might see a retrace down to where the slope is (now considered newly found support). This is a good entry point for those who would like to ride with DNL. It would be best not to chase the price since this stock is already overbought with RSI or Relative Strength Index at 83

Caveat!

Don't chase DNL, wait near support


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Reply #29 on: Jan 19, 2014, 05:25 PM
We have seen DNL broke the triangle last week as it continue to move up and didn't confirm the Doji candlestick which could have been the reversal point. Instead of showing bearish sentiment after the Doji, it created a large green candlestick which convinced us of the bullishness of DNL. It also broke the 78.6% Fibonacci Retracement level in the process. Now that we are near our previous high at 6.91, we may experience some resistance. Another reason why it may retrace is the RSI or Relative Strength Index which is at overbought level. It is higher than the RSI when it hit 6.91 last October 2013

Lastly, we also have a Bearish Meeting Line pattern which suggests that there is a stalemate between the bulls and the bears. If this will be confirmed on the following day then we will see DNL go back and find support near 6.71 If this will not be confirmed then we might see DNL go up with possible target near 7.16

Ichimoku system on daily chart is telling us that DNL is in bullish mood with the latest green signal created by the Kumo breakout last Tuesday. Our weekly chart has only one bullish signal and that is the Kijun Sen Cross. This is considered Neutral Bullish signal because it is done inside the Kumo.

Caveat!

DNL: Bullish mood on daily chart


 


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