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Hi Mr. Banker,
I have been lurking at your thread since I started monitoring AEV. While AEV has shown very strong upside momentum over the last two days, I was caught by surprise when the ask price prior to run off was dropped from 44.00 to 42.20. Is this a normal situation? Is there a more far reaching agenda to depress the price? Could it simply be an innocent human error? A penny for your thoughts, Sir.
Just the same, my views on AEV have remained for both the short and long term.
More power to you.
Sorry for the late reply, friend legacy.
At present, I think there is no cause for alarm. What happened today is very consistent with AEV's behavior for a long time now.
AEV has been a favorite of mine for quite a period already....I think since about the second quarter last year. At that time I noticed that I could make a quick buck by just waiting for AEV at 38.50-39 and sell at 41. I literally mean "quick bucks" as...for still unseen reason, the price of AEV can race so quickly to 41 and then dropped the following day back to 39 and much of the time at the very last minute of trading. If you back-read this thread or that of Desertstorm, I wrote about this observation of mine several times. I even suspected that an unforeseen hand is using AEV to either temper the rise or fall of the PSE index.
Towards the last quarter, however, the band became tighter that it was already difficult to make a profit out of it. (I wrote about this too). Having a temperament of an investor as well, I kept a core of AEV shares considering the tight range also meant I will not lose but could still earn better than bank rates from dividends.
Last week, AEV graduated to a new range after breaking out of its ascending triangle. Today's last minute drop to 42 is just exactly the same behavior when it was in its 39 to 41 range. I do expect a quick recovery to 44 if overall market sentiment wil be good in the next trading days. My hope though is that it does not stay again in this range for some time. Am looking forward to a dividend declaration that should serve as a catalyst to push it more quickly to the next level. AEV does give better than average dividend yield.
As always...the above are just personal observations/expectations.
Yan...above 44 na. Unloaded half of my holdings at 44.50 just in case it drops again. Hoping though it graduates to another range.
Happy that our investment turned out profitable, friend Legacy. Will just be keeping my other half, in the meantime, as part of my core stock. Really can't resist dividend paying stocks
Was glad AEV squeezed another +3% improvement in price in yesterday's red market. Now am torn between liquidating a long position due to rising RSI's or... just wait for dividends.
Meanwhile, ANC Business Nightly reported that AEV shall be disclosing its 2011 results by Friday next week.
March 2 (Bloomberg) -- Aboitiz Equity Ventures Inc., a Philippine company with investments in power and banking, said profit increased 2 percent to 5.1 billion pesos ($119.3 million) in the fourth quarter of last year. Profit for the whole of 2011 declined 3 percent to 21.2 billion pesos, it said in a disclosure to the stock exchange. The power business accounted for 79 percent of earnings, it said.
http://www.bloomberg.com/apps/news?pid= ... .2F.YNyuXA
Hi Mr. Banker,
Just noticed that AEV has been anong top NFB the past few days, despite price being in a tight range. I wonder if there is anything to it? Deja vu perhaps?
Thanks for calling attention to it, friend Legacy. Will review this weekend. Have not yet re-entered as heavily into its subsidiary AP. But with AP and UBP surely making more money this year, I have no doubt AEV should be a good candidate for another range graduation.
Here is what is stated in COL's research notes today:
*AEV is testing its resistance zone and trying to press a break similar to its subsidiary AP
*Volume levels have inched up and should conspire to show some action this week if volume levels can carry
*A break of 50.30 should do the trick and provide supportive action to drive a scale up towards 55-56
*Support stops are placed at 16 and 32 day averages at 48.90 followed by major support at 47.20, its recent low
Hi Mr. Banker,
Does it mean that for those who can sit and wait, AEV has the potential to retest it's high and perhaps go higher? I hope to be able to do more research over the next few days and try to add my two cents worth to this post.
As always, thank you for your inputs and guidance. A blessed Easter to you.
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