Philippine Stock analysis January 12 rebound gives mixed signals for index

PSEi 4,037.23 | up 4.86 | 0.12%
VALUE Php 6,024,414,008.64

Dow Jones    11,671.88    +34.43    (0.30%)
S&P 500    1,274.48    +4.73    (0.37%)
Nasdaq    2,716.83    +9.03    (0.33%)

Waning Euro fears due to what seem to be an international “bailout” from China and Japan placate markets.

Local stocks receive a good 6 Billion pesos in value turnover.  I’d say this has to be good on the way up to attacking those stubborn 4200-4240 resistance points, but going 39 points higher today and closing up only 4 is not so encouraging.

FOREIGN BUYING      Php 2,110,632,500.5
FOREIGN SELLING      Php 2,530,825,434.4

Foreigners were net sell about 420M pesos “only”, again led by MBT 264M, AP 235M, ALI 73M, SCC 63M, BPI 82M, and that’s about it.  The rest were 20 to 30m NFS from: SECB FPH MEG CEB

Going NFB were: LR 17M, GLO 34M, SMPH 23M, AGI 98M, DMC 31M, URC 70M, MWC 88M, MER 97M

MER’s 30 peso gain to 290, worth 13 gained psei points, were not enough for the PSEi to hold on to its day high gains.  Big index weighting decliners pounced on the bull thanks to ALI AP BPI AEV, who combined subtracted about 25 points from the index.

A lot of voluminous top gainers today: APM .019, PWR .38, SMP 1000 (day high 1265!!), CYBR 1.35 ELI .65, SUN .55, ACR 1.54, POPI .69, CEI .08, SMC 180.2.

Congrats on those who made money on CYBR.  Anybody wanting to get in should wait for correction while those still holding should just focus on their own percentage stops as RSI now at 90.

MER RSI just about nearing 90, and is ready to hit 300 almost surely tomorrow.  It’s all time high in the July 2009 takeover peak was at 302.50.

AP has broken down from a year long uptrend line support, but is getting to be at oversold levels.  Probably a technical buy soon.  Technical buy with technical bounce.  There is another slight year-long support at around 25.

Meanwhile, gold returns to 1385, NIKL returns to 19.10, and draws out the seller JPMorgan for a 9m NFS day.  Other mining shares were also higher: LC/B .44/.46.  AT badly needs viagra, day high of 17.3 but closed 16.96.

For the index, it was mixed signals in today’s bounce, but plays were concentrated on selected stocks.

NO. OF ADVANCES:       91
NO. OF DECLINES:       55
NO. OF TRADES:                21794


  1. Is there enough gold in the Philippines? Gold have been all time favorite as mode of investment .Stock prices fall and rise sharply but that doesn’t happens in case of gold.

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