Meanwhile, San Miguel Corp. (SMC) lag behind yet still gained 1.02% - @99.00 a stone's throw away from its previous high set last Dec 2016 @101.60. The near term barrier is set @100 where price action tried to go further yet failed to do so. Early sell-off and profit-taking have been seen weighing on the stock.
Finally, the resiliency of SM Prime Holdings can be seen with prices opening at the 31.00 figure level with a low @30.90 have broker through the 30.00 from a Dec 29.35 high that gave us some encouraging position to add more to the markets impetus seeing a renewed momentum as prices maintains its force closing on the higher range of the day's trade.
Cloud Chart: Ayala Land Inc.& PSE Index
Link: http://quotes.wsj.com/PH/XPHS/ALI
: http://quotes.wsj.com/index/PH/XPHS/PSEI
Nice to see the 1st 3-digit move on the PSEI then, yet a follow-through fails as the PH stocks are really lagging behind global stocks rally. Encouraging tactical Asian-PH investors to be smart and access what alternatives can do.
ReplyDeleteOnly the best for your trades!
Let's see if and when the PSEI follows the direction of the DOW for the 2nd 3-digit gains that led to finally break the 20k mark levels, regardless of what the GDP report would state. Although the average market call was still @6.8% steady.
ReplyDeleteAs Foreign outflows are continuing their process, market shifts back to US equities has had greater impact post Trumps election, as investors are focusing on what's next on the agenda.
Well as expected there was an up move but not nearly enough. Property stocks (-0.35%) such as Ayala Land drifted lower after its high @36.50 & ended the day nearly flat from its opening price of the week; and still up from last Dec' 2015 high. Mining sector had the biggest decline (-1.16%) followed by the Corporate Holdings (-0.22%), while Industries rose (0.32%)and Services (+1.11%) were gainers for the day.
ReplyDeleteAll in all the market's mixed reaaction has been quite mild in spite of the recent GDP data @6.8% and the news of foreign deals from China other than the news surrounding infrastrutre projects that would benefit
the Philippine economy. The PSEI @7400-7500 levels proves to be some resistance as momentum have seemed to have lost steam for now.
There are at least three (3) other stock picks that are equally important with their #'s showing very good market potentials in the making. Tracking key market indices would provide a glimpse of Price Action Analysis that would lead investor / traders to look into other than the P/E ration of these companies. Although, it justifies the logic forward looking yet not nearly enough to indicate when & what price levels are right to take
ReplyDeleteIts always after the fact when stock prices have moved that it gets to the limelight. At 92.00 then SMC just starting its run. Technical indicators may provide warning bells yet prices continued on demand. Pullbacks are indeed part of a trend that occurs in either direction.
ReplyDeleteIn the Philippines there are Two Industry Sectors that has a "Certain Degree of Resiliency" The Philippine Stock Market Index is the barometer that measures the strength and weakness of the different market sectors that drives the PH economy. It can be considered as the main market indicator that reflects the market sentiments of investors and traders that determines where the money flows in and out of the major stocks composition.
ReplyDelete