Manila Water Company or MWC in the Philippine Stock Exchange, a subsidiary of Ayala Corporation, is in the business of water delivery and sewerage sanitation services to the East block of Metro Manila. MWC, however, is notorious to a lot of people who lives and do business in Quezon City, Makati, San Juan, Taguig, Mandaluyong, Manila, Pateros, and Marikina because of the traffic congestion that the company cause on the roads. As if Metro Manila’s streets aren’t congested enough, here’s MWC doing its thing to keep it more so. While MWC’s objective of digging fractions of roads could be honest, they company needs to do a better job of planning it. You see, after digging a certain portion of the road for quite some time and eventually repairing the road again, sooner or later they will come back to dig again. Such a hassle. And they do not even fix the portion of the road back in its original finish or better. Boo.
In any case, despite my rants above, MWC could bring me in some money at this point in time if I play it right and if, of course, the market goes my way. As you can see from its chart above, MWC looks to be due for a rally. After a less than stellar performance during the fourth quarter of last year so far this year, its shares has weakened back to its primary uptrend line which all started back in January 2009. Notice also that MWC’s 200-day moving average appears to be keeping it afloat as well. Now, these supports are major as they can be so a rally would most likely happen. A rebound from its present level could sent it back to it’s former high around 19.70 Philippine Peso. A fall below the two supports, on the other hand, could send it down to PHP 16.50 or PHP 16.00.