ICT Seen To Extend Its Uptrend
As early as August 14, 2016, we already noted in our Equity Advisor that International Container Terminal Services, Inc. (ICT) or ICTSI would end its downtrend and start to pivot higher and aim for a measured objective of Php83.00. Shortly after the said break, the stock had indeed achieved the said goal before it entered into a corrective phase exhibited within a downward sloping channel. On January 8, 2017, the stock showed signed that it would again start to pivot north. This was only validated by succeeding breaks on January 24 and March 15 from established interim higher low bases. As you can see, the stock has indeed reversed its course and revisited its interim resistance at Php85.00. Moving forward, a new break from an even bigger bullish reversal pattern may continue to drive the stock towards its resistance at a prior gap at Php98.00 to Php101.10. Note that this area happens to fall in line with the highest fundamental fair value estimate of Php99.00 that is given by a financial institution as per Bloomberg’s survey.
ICT write-up from the Trading Edge Equity Advisor:
March 15, 2017
We are reiterating our technical ‘buy’ call on International Container Terminal Services, Inc. (ICT). After escaping a downward channel, the stock since established and completed an interim bullish reversal that resembles a cup and handle pattern. Now its recent break above Php78.65 only brings it closer towards its next resistance and initial objective at Php85.00 to Php85.10.
ICT write-up from the Trading Edge Equity Advisor:
January 24, 2017
We are reiterating our technical buy call on International Container Terminal Services, Inc. (ICT). In our Equity Advisor issue last January 8, we noted that ICT would start to move higher following its break from a descending channel. Fast forward to today, the stock has since formed and completed an interim bullish reversal as characterized by the higher low base that it has formed against a prior downtrend. Moving forward, a new break past Php76.00 may then send the stock to an adjusted objective of Php84.20 to Php85.00.
ICT write-up from the Trading Edge Equity Advisor:
January 8, 2017
International Container Terminal Services, Inc. (ICT) may pivot higher in the next several days. This is so as the stock has recently escaped a well-defined descending channel. Its break past its prior resistance at Php72.00 may then lead it to a measured objective of Php79.50 to Php80.00.
ICT write-up from the Trading Edge Equity Advisor:
August 14, 2016
International Container Terminal Services, Inc. (ICT) may finally continue to wave higher in the very near term. As you can see from its chart, the stock has just escaped a bullish basing formation when it crossed its neckline resistance at Php69.00. As some of you may know, an ability to do so especially when accompanied by a surge in volume often leads the stock to pivot north, opposite of its prior downtrend. As such, ICT may likely be expected to extend its rise and aim for at least Php81.50 to Php83.00.
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