SMC – Another Flag Formation Waiting to Breakout?

Following PX's breakout last Monday from a flag formation, or descending triangle whatever you look at it, San Miguel Corporation is now also trying to breakout from a flag of its own.

After establishing the pole last November 18 and 19, SMC has consolidated between 115.00, and the elusive 125.00 resistance level. Now if SMC will finally manage to breach this level convincingly within the next few sessions, we will be looking at a price target near the 150.00 level, which would present a strong psychological resistance.

To trade SMC, one should wait for the successful assault against the 125.00 level, accompanied with strong volume before buying this stock. Don't preempt any breakouts, and set your stop-loss level below the 115.00 flag support level. With this in place, you should be fine.

While MACD shows that a bearish crossover with the signal line is imminent, chart-wise, SMC still looks good. And coupled with rumors circulating that San Miguel is going to offer secondary shares to the market, with price ranging between 150 to 200 pesos, there is a strong motivation for the jockeys to push SMC towards the 150 levels. Provided of course, that this is true hehe.

Pinoy Stock Trader

Random PSE Musings - Is the San Miguel Party Over?

For the first time in 10 trading sessions, SMB finally went red, closing at 25.00 pesos, or down by -7.6%. While this is not totally unexpected, the actual decline came to be a surprise, as SMB went as high as 31.90, before turning about face, and crashing down. With its very volatile move earlier today, at least SMB has established an immediate support level at 22.50, and could consolidate between this level and 31.90 for the time being.

Still, the next few sessions will be crucial, as we still have to know if the 22.50 support level can be held. If not, then expect another bloodbath for this issue, and can go as low as 18.00 as its next target.

While PCOR managed to hold on to its gains and close at 10.10, it still is a far cry from its day high at 11.80, also burning a lot of investors in the process. LIB even joined the party early on, but this also closed far from its daily trading high.

Now, rumors has it that SMC, the parent company, is planning to offer secondary shares to the investing public next year, offering SMC shares between 150-200, which could probably explain why SMC-related stocks are moving northwards simultaneously. Well, it is up to you if you want to join the San Miguel party, or just look away, thinking that the party is over. 

PSE Rumor Mill: Nickel Asia’s (NIKL) IPO is Now Doing at 16 Pesos Per Share, Over the Counter

*EDIT* Price is now doing 17.50 OTC!

Apparently, there is a very strong demand for Nickel Asia’s IPO that brokers are now looking to buy NIKL shares at 16.00 Pesos per share, over the counter.

We are also actually looking to buy NIKL shares at 16.00 per share, any amount will do, but preferably 10,000 shares and up. So if you have NIKL shares allocated to you, and would want to sell it for an instant 1 peso profit per share, you can contact me hehe.