Two (2) of the major conglomerates, Ayala Corporation & SM Investment Corporation have been leading the PSE Index nearing its milestone price near the PHP1000.00 mark. With Ayala #AC trading at 987.50 and SM Investment #SM at PHP901.50. As the companies have engaged in the property development and banking sectors other than other sectors in the industry.
Thus leading the PSEI back above the 8200 levels where a roller coaster ride driven market were seen with a registered low at 8119. And is now trying its best effort to fill-in the daily open gap that was left behind right after the first registered new high at 8321.
Well anticipated that Ayala & SM would be leading the benchmark again into positive territory and driving towards record levels, in spite of several market drawbacks from Foreign market participants. Nonetheless, a market driven record highs are in sight where majority of the PSEI composite would benefit from.
Ending the 3rd quarter on the last day of Sept 29, 2017 would welcome the 4th quarter trading with spill over market sentiments starting the first two (2) weeks of October. Although, the starting month will likewise carry a load of market 'uncertainty' as the 4th trading quarter remains to be a period of position adjustments for institutional investors and corporations preparing for the reforms, plans and implementation heading into 2018.
Price Update on AC & SM
As a Tug of War exists between these groups of conglomerates that composes the PSEI; both #GTCAP & #MBT opens the pm session dragging their respective prices lower as against the overall market sentiments. Secular forces on both sides of the trade can be felt across the board. This is were the market differentiates the market participants trading the PH stock market once such volatility increases.
ReplyDeleteAt the end of the PH 3rd quarter trading the PSEI ended at 8171 a reversal of fortune from its daily high at 8240 with a low at 8151. And an increase in volume transactions on book squaring positions for a fresh start at the opening 4th quarter trading.
ReplyDeleteFor the previous week's early gainers before the run up was good, but again the decline prices from individual stocks towards the close were simply forced liquidation as the benchmark have created a similar divergent among asset class that saw a unique price behavior that affected the prices more on the way down
and held steady when the PSEI went higher in the am session. These type of divergence in prices means that a continuing struggle in position adjustments ocurred during an increase in volatility.
AYALA CORP Marks above PHP1000 / share as of the afternoon session dated 10/06/2017. Market & Price Call just been VALIDATED. SM still trailing although, it did register a new high at 925.00 for the day. Eventually it will get there.
ReplyDeleteAC Price Update: PHP1017.00 / share as of Oct 23, 2017
ReplyDeleteOn the other side of the coin, the impeccable timing for the sale of Ayala's 7.06M shares; equivalent to a PHP7.5B block transaction could not have happened near the peak of its stock price. Thus prompting a continuing slide of 72.63 points for the PSEI ending the day at 8348.32.
The technical Divergence on Ayala shares have proven to be a true signal last Oct 06, 2017 after being supported by the sale of its shares to foreign institutional investor that prompted the stock price to drop below 1000 as of Oct 24, 2017.
ReplyDeleteChart Reference: Divergence Signal dated Oct 06, 2017
Reference: https://megatrade101.blogspot.com/2017/10/record-high-for-ayala-corp-sm.html
Finally 2018, SM at PHP1040.00 the much awaited price we have been waiting for since September 29, 2017
ReplyDelete