Monday, November 23, 2009

Philippine Market Tip

MPI: Metro Pacific Investments

As you can see from the chart below, the MACD has just signaled a "bullish divergence," wherein the MACD has had a "low" and a "higher low," while price has had a "high" and a "lower high." This indicates that the momentum to the downside is decelerating, and the sell-off may be over.

Fundamentals: MPI controls defensive companies such as Maynilad and NLEX tollways, which means that their cashflow will most likely remain strong even if the economy stalls.

Entry Price: 2.5-2.7
Cut: 2.45-2.5
Short-term Target: 3.1
Medium/Long-term Targets: the moon :)... 3.8 then 4.4

I plan to enter this trade tomorrow. I hope I won't be too late.

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