• Found Gold in Puregold

    Found Gold in Puregold

    In our Equity Advisor issue last July 7, 2016, we noted that Puregold Price Club, Inc. (PGOLD) had placed itself en route to revisit its all-time peak at Php48.50. This was so as the stock had just escaped a near term consolidation at around that time. Looking at its chart, one can see that PGOLD has indeed achieved the said target and more. Moving forward, though, it appears that it may first fold by a few points following its inability to sustain its upside break past its 2015 peak. Its failed breakout has actually led to an upthrust that may swing the stock down towards its immediate support at its uptrend line at around the Php43.00 zone.

    By the way, for some of you who wants to know, consensus gives PGOLD a 6-12 month fundamental fair value estimate of Php47.20, a level that it already hit.

    Care to know how we tracked the movement of Puregold (PGOLD) in the last 16 months? Below are the key technical events in the stock that we happen to capture.

    PGOLD write-up from the Trading Edge Equity Advisor:

    July 7, 2016

    In our Equity Advisor issue last April 10, we had adjusted the technical target of Puregold Price Club, Inc. (PGOLD) from Php38.40 to Php43.95. Fast forward to today, one can see that the stock has indeed reached the PHp43.95 mark. Now given its new break from a recent consolidation, we are once again adjusting our target higher to Php46.50 to Php48.50. You see, its new break above Php43.40 on heavy volume may likely attract more buying activities that may in turn send it to its all-time peak at around Php46.50 to Php48.50.

    puregold price club, inc. pgold consolidation break 07.07.16

    PGOLD write-up from the Trading Edge Equity Advisor:

    April 10, 2016

    Funds may likely be switching out of index issues and into second tier names like Puregold Price Club, Inc. (PGOLD). If you remember our Equity Advisor that we issued last March 9, we noted that the stock would actually start to pivot higher and aim for at least Php38.40. As you can, the stock has indeed reached for the said score and more. Moving forward, the stock may continue to climb following its recent break above an interim resistance at Php37.65. Such may then lead it towards an adjusted upside of Php42.00 to Php43.95.

    puregold price club, inc. pgold consolidation break bullish reversal 04.10.16

    PGOLD write-up from the Trading Edge Equity Advisor:

    March 9, 2016

    Puregold Price Club, Inc. (PGOLD) may have placed an end to its longstanding downtrend. As you can see, the stock has broken out from both its downtrend line and from a complex bullish reversal. Note that it has likewise done so on good heavy volume. With its rise over its resistance at Php34.50 and a presence of an unfilled demand of 1.80 million shares at its last close of Php35.00, PGOLD may then swing to Php38.00 to Php38.40.

    puregold price club, inc. pgold downtrend break bullish reversal 03.09.16

    PGOLD write-up from the Trading Edge Equity Advisor:

    May 31, 2015

    Puregold Price Club, Inc. (PGOLD), like its parent COSCO, will likely see some downside move in the coming week or two. As you can see, the stock has recently broken down from a symmetrical triangle pattern when it failed to hold above its support at Php39.00. Given this break, PGOLD may continue to slip towards a downside target of Php32.00 to Php34.00.

    puregold price club, inc. pgold consolidation breakdown coiling pattern symmetrical triangle 05.31.15

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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!

    For those who are interested in technical analysis or learning how to profit using charts, we have an upcoming Technical Analysis Course on September 17 & 24, 2016. For more information, you may send us a direct message here or text/call (+63) 917 899 90 09.

     

     

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