San Miguel Corporation (SMC)
Consensus Target Price: PHP 145.80 [Read more...]
Don’t You Just Love San Miguel!
Hello beer lovers! When you hear the word “San Miguel”, the first thing that comes into your mind is the awesome beer they produce. However, I’m not here to discuss about their beer but instead show you the outstanding movement of the San Miguel stocks. Before that, for those who do not know, San Miguel Brewery Inc. or SMB in the Philippine Stock Exchange is the producer of the world-famous San Miguel Beer (ligh, premium and pale pilsen). They also produce the Red Horse Beer and the malt-based non-alcoholic drink, Cali. Anyway, the SMB stocks have been [Read more...]
PHILIPPINE STOCKS: SMCB (SAN MIGUEL CORPORATION “B”) – June 3, 2010
It was exactly the same month last year when I posted the San Miguel Corporation “B” breakout (click here to see the original post from psepicks). After breaking out from the neckline of a double bottom formation (indicated by the 2 red arcs) last June 16, 2009, we can now see that the SMCB has successfully reached my 75.00 peso minimum target price. Currently, the San Miguel “B” stock is still moving within an ascending channel. Now given its present ascent, it should continue to move higher though it could encounter some selling pressure at 80.00. The good thing is, it could propel itself to 90.00 if and when it successfully clears 80.00. However, it could just trade in a range bound fashion if it fails to move past the mentioned level before swinging to either direction again.
PHILIPPINE STOCKS: SMCB (SAN MIGUEL CORPORATION “B”) 9-5-2008
Despite the huge 344 point (2.99%) drop in the US market last night, there are still a chosen few that went up today and that’s the stocks of SMCB. Looking at SMCB‘s 20 year chart in the first picture, it can be seen that it’s consolidating around it’s major support at present. However, can it be said that it’s already bottoming and about to bounce up or is it still going down? That we don’t know but if we look at the shorter timeframe of SMCB‘s chart below the first one, a rectangle can be spotted right away as indicated by the 2 red horizontal lines. The price is consolidating around the resistance (topmost red horizontal line) of the rectangle as of the moment and is possibly trying to breakout from its chart pattern (rectangle). An ideal entry for this is when the price pierces thru its resistance line. And if it does, the immediate target price would be 57.5 if everything goes well. Click image to enlarge!
