The past 3 months weren’t particularly well for the Philippine Stock Exchange Composite Index despite all the positive hype that the Philippine economy has been getting as of late. The PCOMP or PSEi, being a leading barometer of the Philippine economy, has been telling a different story.
Good morning everyone! Speaking of mornings, I am very hungry since I haven’t had my breakfast yet. And guess what?! I smell (FOOD) from outside my hotel room. Literally! Anyway, today’s stock feature is about Alliance Select Foods, Inc. or FOOD in the Philippine Stock Exchange which was formerly known as Alliance Tuna International, Inc. or TUNA.
After hitting a low of 81.08 last February 4, the USDJPY pair has rallied back to mark a high of 83.97 2 days after Valentine’s day. It appears, however, that US dollar’s push against the Japanese yen is starting to lose some momentum. As you can see from its 4-hour chart above, the pair has formed what looks to be a head and shoulders pattern with a neckline at around 83.10.
Now, Ayala Corporation (AC) – led Globe Telecom, Inc. or GLO in the Philippine Stock Exchange looks to be on the verge of a price meltdown until the company does something that would induce investors to get back in. You see, while a lot of other issues had performed exceptionally well in 2010, GLO did not.
Manila Water Company (MWC) Causes Traffic But Brings Money?
Bearish Divergence In Semirara Mining Corporation (SCC)?
Oriental Peninsula Resources Group (ORE) To Swing Higher?
Megaworld Corporation (MEG) Poised For Another 10% Drop
2010 was a marquee year for Andrew Tan’s flagship company Megaworld Corporation or MEG in the Philippine Stock Exchange as it was able to book a 69.86%. However, MEG’s outlook had started to look a bit bleak around December as it started to form a head and shoulders pattern which technical analysts consider as a bearish pattern.
Happy Valentine’s Day everyone! I know you guys want to kiss those who you like and I know there’s something more on your mind. If that’s the case, ladies, please take it as a compliment. Since it’s the day of hearts, let’s tackle something sweet and my best choice is The Hershey Company (HSY) who manufactures chocolate and sugar confectionery products worldwide.