The 4% drop in gold price yesterday coupled with unfavorable news in the Euro zone triggered a minor [Read more...]
A Bounce Seen In Philex Mining Corporation (PX)?
Philex Mining Corporation (PX): There’s Life In Mining
Manny Pangilinan-chaired Philex Mining Corporation or PX in the Philippine Stock Exchange had made a nose dive after hitting alightly past Php 28.00. The question now is, will PX be able to reverse its recent demise? [Read more...]
Philex Mining Corporation (PX) To Regain Its Luster
Philex Mining Corporation (PX) has been having some rough days for the past couple of weeks as it saw its stock dip from a high of Php 28.95 to a recent low of Php 24.00. The question now is, will PX be able to regain its luster? [Read more...]
Is Philex Mining (PX) Bound For Some Correction?
Manny Pangilinan-chaired Philex Mining Corporation (PX) has been having a terrific performance so far this year, booking a YTD return of 51.42%. However, it seems that its winning streak maybe coming into a halt given its present technical set-up. [Read more...]
Philex Mining Corporation (PX) Racks Up More Gains!
Philex Mining Corporation (PX) was one of the main guys in [Read more...]
Bullish Pennant Seen On Philex Mining Corporation (PX)
Local mining stocks like Lepanto Consolidated Mining Company (LC and LCB) and Philex Mining Corporation (PX) have made a pretty good run-up during the past week or so. Still, it looks like there’s going to be a follow through at least for Philex in the near term. [Read more...]
Philex Mining Corporation (PX) Digs Up Some Gains!
Despite the 0.56% and 1.14% drop of the PSEi today and the Dow Jones Industrial Average (DJI) yesterday respectively, gold mining [Read more...]
STOCK PICKS on “BULL pa ba or BEAR na ba???”
For those who weren’t able to make it to the Absolute Traders event “BULL pa ba or BEAR na ba???” last Friday, here are the stock picks I presented just to keep you posted.
Before anything else, LaidTrades want to congratulate Absolute Traders for organizing the event, the speakers who presented their outlook in the financial markets and everyone who joined. Cheers to the very helpful insights, great food and awesome people!
Anyway, let’s begin with my technical analysis on the 7 Philippine stocks I chose. Let’s do this alphabetically…
DMCI Holdings Inc. (DMC)
Philex Mining (PX) Breaks Out!
The shares of Philex Mining, which is the largest gold producing company in the Philippines, or PX in the Philippine Stock Exchange have broken out from a either a rare inverted head and shoulders continuation pattern or a descending triangle. Either way, the recent breakout suggests a subsequent upside move for the stock. Looking at its daily chart, you can see that the volume of shares that was traded during the time of breakout has increased. The MACD likewise signal a bullish move with a bullish crossover (histogram just crossed above the zero line). Moreover, its RSI is already above 50 but below 80, suggesting that its upside move is gaining momentum. Yesterday’s (December 7) trading has also pushed it above all the three moving averages. Anyway, if buying continues to [Read more...]
