I remember one trader tweeting something like “BUY until PH is not
investment grade.” Technically, index will bounce from its
resistance-turned-support or from its channel. However, we can’t still
ignore the fact that there is a potential bearish rising wedge that’s
forming on PSEI.
After breaking the 2.33 resistance, it is now retesting the resistance-turned-support before (hopefully) bouncing up.
Management is confident that BACMAN will be ready for commercial operation on early 2013.
Wealthsec’s Fundamental TP = 24.80
PCOR – Petron’s Weekly Chart
Notice that volume has been picking up for the past 2 weeks. It’s also speculated that there’s a turnaround of results in Malaysian operations after incurring loss of Php1.6B in 2Q2012. This week I will try to post the FA of PCOR.
MBT – 90
TEL – 2670-2700
AC – 420-425