JFC write up from the Trading Edge Equity Advisor:
February 21, 2013
As Jollibee Foods Corporation (JFC) made into the cover of Forbes Magazine, its share price caught up to mark a new all-time high just today. If you remember our post back in February 4, 2012 (exclusive to our Equity Advisor subscribers), we were happy to have captured JFC in the act of breaking out from a cup and handle pattern. We then noted that buying at present levels or near Php110.00 would be a good idea. After just several days of consolidating above the said level, JFC then started to move and eventually broke above the previous record at Php120 to mark a new all-time high. Check that there was a huge cross amounting to more than Php800 million on February 18, indicating that someone has bought a good chunk on that date. Our initial target of Php120 has already been achieved but since JFC closed today near its high with no resistance on sight, perhaps it would be a good idea to hold and run our profits. We have pegged our second target at Php125 (based on the height of the pattern) but it seems that that level would be reached in no time.
February 4, 2013
Jollibee Foods Corporation (JFC) has been a laggard among the consumer stocks for the last several months. While industry peers like PGOLD and SMPH, for example, have been getting the nods of foreign funds, JFC appears to have been snubbed. Things, however, look differently now as just broke out from a cup and handle pattern. By on the height of the cup, JFC could reach a target of Php125.00 especially if it is able to stay above the Php110.00 neckline. Still, some resistance could be met at its previous high at Php120.00.
Buy at present level or closer to Php110
Target at Php120-125
Cutloss at Php107.50
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