Tag: PSE index

PSE index up by 59.35; SCC

Posted by AiDz – March 12, 2012

The PSE Index, 9 March 2012

Asian stocks, including Philippine stocks are expected to gain today as US stocks rose on Friday, March 9, 2012. The Dow Jones Industrial Index, DJIA, added 14.08 points/0.11% to close at 12,922.02 while the Nasdaq and S&P 500 closed at 2,988.34 (+17.92/+0.60%) and 1,370.87 (+4.96/+0.36%) respectively.

The Philippine Stock Exchange Index, PSEi, closed higher on Friday at 4,980.71 (+59.35/+1.21%). Market breadth was positive with 93 gainers vs. 73 losers; while 36 issues unchanged. I’m expecting the index to move back up to 5,000 level this week after a small correction it made last week, the uptrend is still in tact.

PSE index – daily chart

2012Mar9-PSEi 

 

Semirara Mining Corp, SCC

Semirara Mining Corp, SCC, the largest producer of coal in the Philippines, helped the index to close higher as it closed +2.18% or PhP 234/share, its 30-day high. Forecasts from Financial Times indicates that its target price for the next 12 months is PhP 259.30/share to P303.49/share.  Chartwise, SCC is poised to break its all time high at 240.40 if momentum continues.

SCC’s weekly chart

2012Mar-SCC

Company’s Profile:

Semirara Mining Corporation is a Philippines-based company engaged in exploring, developing, and mining coal resources in Semirara Island. The Company is a subsidiary of DMCI Holdings, Inc. The Company generates its revenues through the production of sub-bituminous coal. Over the years the company diversified its coal market. In 2010, volume sold to export market accounted for 57% of the total coal sales, the power generation sector 24%, cement and other industries at 19%. Year on year, market share varies depending on the demand from each of the major market sector. In 2010, the Company contributed 6.95 million metric tons (MT) to the country’s coal production. The company had a contract with National Power Corporation (NPC) for its power plants in Calaca, Batangas but it was terminated after the Company’s wholly-owned subsidiary, SEM-Calaca Power Corporation acquired ownership over the Calaca Plants.

 

Non Index Stocks

Watch out for Property stocks, BHI, EVER, SLI, and CPG. On the other hand GREEN, MAKE, and AMC also were top gainers on Friday, I don’t have any news on these stocks but they “might continue” their rise today.  

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PSEi’s Week of Ups and Downs; APX, MIC

Posted by AiDz – August 13, 2011

The PSE index – 12 August 2011

The week’s (8-12 August) rollercoaster ride of the Philippine Stock Exchange Index ended in a positive territory. After sliding to a low of 4,129 on Tuesday and recovering to 4321.73 points on Friday, this has been the most adrenalin pumping ride since the recession of 2008. Even though the index is not yet back on 4,400 level, I’m still grateful that it did a fast bounce back.

roller-coaster-at-the-fairground

The S&P’s downgrade of the USA’s credit ratings and French banks worries greatly affected the US markets which spread across the the European and Asian Markets, including Philippine stocks. Along with the record high prices of gold, the Philippine mining sector helped the index recoup from Tuesday’s losses. This was clearly shown on Wednesday, Aug. 10, when the PSEi rallied 133.11 points or 4,290.14, which was also PSEi’s biggest one-day gain since December 2010.

PSE Index Chart

PSEi-12 Aug 2011

If we use the Fibonacci retracement or Fibonacci Fan (used above), the index hit the 50% mark then bounced back up. I’m assuming this week for the PSE index to be within 23.6% of the Fib fan, somewhere in 4392-4400 (resistance) with a support level at 4256-4288 points.

Mining, Mining and More Mining

Since the mining sector (Philex Mining, PX; Lepanto Corp, LC/LCB; Manila Mining, MA/MAB; Semirara Mining,SCC; Oriental Peninsula, ORE; and Nihao Mineral, NI) is the latest craze among other sectors, why not take a second look at the following stocks below?

I just noticed some interesting patterns from Apex Mining Company- A, APX and Minerales Industrias Corporation, MIC, and might give you some thoughts to ponder.

APX Chart – APX has broken out from consolidation (March-Aug) and closed at P4.45 on Friday, with a good volume for the last two days, RSI is still good at 65%, or not yet on overbought. If my interpretation is correct, the projected target price is at P5.38-5.40.

APX-12 Aug 2011

MIC chart – MIC, from its chart, seems like forming a symmetric triangle, with a big volume on Friday, RSI is also at 65%, a target price of P3.8-4.0 should be expected.

MIC-12 Aug 2011

So far, I haven’t read any fundamental news regarding these two companies, I’m only basing my target prices on charts. This is not a recommendation to buy these stocks, I’m only giving you my insights. ;)

Enjoy the rest of the weekend and hope everyone to have an “upswing” mood on Monday! :D

Image courtesy of 123rf.com
Pnoytrader.com
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PSEi Lost 174 pts, Still Above 200D MA

Posted by AiDz – August 10, 2011

The PSE Index – 9 Aug 2011

Local markets slid further as the PSE index gapped down at the opening and lost 174.21 points at the closing bell. Though the index closed at 4,157.03 points, it’s still above the 200 day Moving Average, which means that the long-term support is still intact. For your info, most long term investors, fund managers and institutional investors follow the 200d MA as a guide in their investment decisions. If this MA breaks tomorrow, then prepare for the bear market. I think, Wednesday will be a day for a rebound but it might take some time before we fill in the gap at 4,320.

Time to bottom fish those blue chips, TEL, SCC, CEB, AC, AGI and MER and those gold/nickel miners, PX, MA, LC, and ORE. Disclaimer still applies.

PSEi-9Aug2011

As of this writing, Wallstreet has jumped after sell-off, with Dow adding 154 points, S&P +23 pts, Nasdaq +69.18 pts. Is this a dead cat bounce? We’ll see in the coming days.

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