JG Summit Holdings or JGS in the Philippine Stock Exchange for a while had moved past its previous high at PHP 27.50. However, sellers are quick to bring it back towards PHP 27.00. Nonetheless, things still look rosy for JGS at least from a technical perspective at this point in time.
Another John Gokongwei – led company, namely Universal Robina Corporation or URC in the Philippine Stock Exchange has been making some headway these past couple of days. Now, will it be able to regain its form and regain its previous high that it had back in 2010?
Philex Mining Corporation (PX) was one of the main guys in today’s top gainers list with a significant amount of volume traded along with Lepanto Consolidated Mining Corporation (LC) and Manila Mining Corporation (MA).
WTI crude oil suffered an unprecedented fall last week when it was dropped like it was hot from a high of $114.81 per barrel to a low of $94.65 in a matter of days. Since then oil prices have rebounded again. However, it appears that oil could bound for another dip in the near term.
The euro got hammered by the us dollar during the last 4 days when it slipped sharply from 1.4940 last May 4 to a low of 1.4254 yesterday. However, it appears that the euro bulls will be looking to rebound from its recent losses shortly.
JG Summit Holdings, Inc or JGS in the Philippine Stock Exchange could be on the verge of knocking out its all-time high at PHP27.50 just like Manny Pacquiao‘s attempt on Shane Mosley and I’ll tell you why shortly. The JGS stocks racked up some hefty gains today closing the trading session up by 6.1% to PHP27.15.
Are the bears about to take control of the shares of SM Prime Holdings, Inc. (SMPH)? I am confronted with this question now because it appears that SMPH is indeed primed (no pun intended) for a major correction in the near term.
