• JG Summit Holdings: Fairly Valued At Present Level?

    JG Summit Holdings: Fairly Valued At Present Level?

    In the February 19, 2014 issue of our Equity Advisor, we noted that JG Summit Holdings, Inc. (JGS) would start to trek higher as it broke out from a failure swing bottom. Indeed, the stock raced towards its main resistance at Php46.00 in just 6 days and then reached for its pattern target of Php47.30 immediately after that. As you can see from its chart, the stock continued to extend its rise which led it to revisit it former highs at the Php50.00 marker. Since the noted breakout, JGS has already risen by as much as 16.94%. Moving forward, the stock though may be due for a correction as it encounters a major hurdle at the Php50.00 level. A resistance here plus an overbought RSI score may lead it to fall back to Php46.00 or even Php44.00. A break above Php50.00, on the other hand, may set it up to newer heights. Note, though, that JGS was given a consensus 6-12 month fundamental target of Php48.50* by the top foreign and local brokers, making it fairly valued at present level.


    JGS write-up from the Trading Edge Equity Advisor:

    February 19, 2013

    stock market philippines JG summit holdings inc. JGS 2.19.14

    JGS also made a notable move today with its move above its former support at Php42.00.  The move, as you can see, also coincides with a breakout from either a double bottom, failure swing bottom, or a rectangle pattern. Given this, JGS may aim its next target at Php46.00 if it can stay above Php42.00. On the flip side, a slip below Php42.00 may bring it down to at least Php40.00…


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    *Consensus target price or average target price given by the major foreign and local brokers of various stocks are available in our Equity Advisor!

    For those who are interested in technical analysis or learning how to profit using charts, we have an upcoming Technical Analysis Course on March 22 – 23, 2014. For more information, you may send us a direct message here or text/call (+63) 917 899 90 09.

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