• Semirara, While Hitting Its Initial Target, Still Has A Good Upside

    Semirara, While Hitting Its Initial Target, Still Has A Good Upside

    In our Equity Advisor issue last October 6, 2016, we noted that Semirara Mining and Power Corporation (SCC) would stage a recovery and aim for Php143.00 following its ability to invalidate a breakdown. As you can see, the stock has indeed achieved the said goal and more, giving it a gain of 19.17% in the process. Moving forward, a new break past its resistance at Php140.00 should extend its current run. Note that after Php140.00, the stock’s next resistance is already set at Php160.00 to Php168.40. Moreover, consensus gives SCC a fair value of Php159.23 with the highest estimate pegged at Php185.40.

    SCC write-up from the Trading Edge Equity Advisor:

    October 6, 2016

    Semirara Mining and Power Corporation (SCC), after hitting its Php100.00 downside following what initially appeared to be as a bearish reversal, may turn higher again. The reason for this is its recent rise above the Php117.00 resistance which effectively nullifies its prior breakdown. This invalidation has led to a formation of a spring that may then send the stock all the way back to Php135.90 to Php143.00.

    semirara mining and power corporation SCC failed breakdown invalidation 10.06.16

    SCC write-up from the Trading Edge Equity Advisor:

    August 11, 2016

    Semirara Mining and Power Corporation (SCC) may likely continue to see more outflows in the very near term. As you can see, SCC has actually just broken down from a bearish reversal pattern that resembles a head and shoulders. Given its slip below its neckline floor at Php116.20, the stock may then continue to slide until it finds some ground at its next support at Php100.00.

    semirara mining and power corporation SCC head and shoulders kilroy breakdown 08.11.16

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