• Right on Target With Security Bank (SECB)

    Right on Target With Security Bank (SECB)

    In our Equity Advisor issue last March 10, we noted that Security Bank Corporation (SECB), despite the recent ratings downgrade from major banks and brokerages, would actually start to make a quick ascent towards Php173.00. Fast forward to today, one can see that has indeed reached for the said goal, giving it a decent gain of 15.26% in just 2 weeks! Moving forward, having reached both its technical target of Php173.00 and its consensus fundamental target of Php169.80, SECB should now be sold. A presence of a resistance around its 2015 peak and an overbought RSI score, aside from the lack of upside from a fundamental count, may likely lead SECB back to its nearest support at Php160.00 or even down to Php145.00 to Php150.00.

    SECB write-up from the Trading Edge Equity Advisor:

    March 10, 2016

    We are reiterating our technical buy rating on Security Bank Corporation (SECB). As you can see from its chart, the stock may finally send itself back on the bullish track following its breakout from a bullish reversal pattern that is characterized by an establishment of higher low bases against a midterm downtrend. Its rise over the Php145.00 handle should therefore lead it towards Php170.00 to Php173.00. Note that this objective is also in line with its 6-12 month consensus fundamental target of Php170.45 as of March 10, 2016.

    security bank corporation SECB bullish reversal cup and handle breakout 03.10.16

    SECB write-up from the Trading Edge Equity Advisor:

    February 17, 2016

    While Security Bank Corporation (SECB) has only been trading listlessly (sideways) over the last several months, we are still giving it ‘buy’ rating. As you can see from its chart, the stock is still trading along its long term uptrend. In our opinion, it will eventually cross its near term resistance at the Php146.80 to Php150.00 area. Such event may then give it an upward momentum that may then send it to a target of Php173.00.

    security bank corporation SECB primary uptrend line 02.17.16

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

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