Write-up from the Trading Edge Equity Advisor
During the start of the year, we placed Araneta Properties, Inc. (ARA) in our top picks for 2013 for good reason. At that time, we were convinced and not just speculating that ARA would show up big. As we’ve noted earlier, ARA was already on the cusp of breaking out from a massive inverted head and shoulders that took more than 10 years to form. On January 16, the ‘break out’ finally happens. Right there and then we mentioned that any correction could be taken as an opportunity to go long on the stock as ARA would start to track its minimum target of Php1.90. Six weeks after the breakout which was yesterday, our Php1.90 target was already achieved.
We called a ‘Buy’ on ARA at Php0.90 with a minimum target of Php1.90. That’s 111% in 6 weeks! And that is why ARA is a conviction top pick of Trading Edge Consultancy. 🙂
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