• Integrated Micro-Electronics, Inc. (IMI) Seen to Reach Php8.65

    Integrated Micro-Electronics, Inc. (IMI) Seen to Reach Php8.65

    In our Equity Advisor issue last February 16, 2017, we noted that Ayala-led Integrated Micro-Electronics, Inc. (IMI) would start a new up wave and reach Php7.50 following its escape from a basing formation that resembles a rounding bottom. As you can see from its chart, the stock had indeed achieved the mentioned target and more. Moving forward, a new break above the Php7.50 hurdle may likely lead the stock towards its next notable resistance at its 2014 peak of Php8.65 to Php8.90. Consequently, consensus also gives IMI and fundamental fair value estimate of Php8.90 for 2017. While we believe that the stock will undoubtedly reach its adjusted technical goal of Php8.65, it appears that it is actually shaping up for an even bigger upside. But that’s for another time.

    IMI write-up from the Trading Edge Equity Advisor:

    March 20, 2017

    We noted in our Equity Advisor issue last February 16, 2017 that Integrated Micro-Electronics, Inc. (IMI) would start to pivot higher given its escape from a basing formation. Since then, the stock has already risen to Php7.10. Moving forward, a new break from a short run consolidation places on the fast track towards its next notable resistance at Php7.50. As mentioned previously, the stock may stall at least temporarily after it hit the Php7.50 marker since this was the price where it held its secondary offering before.

    integrated micro-electronics, inc. IMI consolidation breakout rounding bottom 03.20.17

    IMI write-up from the Trading Edge Equity Advisor:

    February 16, 2017

    Another semiconductor company in Integrated Micro-Electronics, Inc. (IMI) will likely see more inflows in the interim. As you can see from its chart, the stock has just moved past the resistance of a 7-month consolidation. Its rise above Php6.47, which was accompanied by a heavy market participation, may then lead it towards its next resistance at Php7.40 to Php7.50. Note that the stock may likely stall at the Php7.50 zone it’s the price where it previously held its follow-on offering.

    integrated micro-electronics, inc. IMI rounding bottom breakout 02.16.17

    IMI write-up from the Trading Edge Equity Advisor:

    August 21, 2016

    Integrated Micro-Electronics, Inc. (IMI) will likely fold by another 11% in the near term. As you can see from its chart, its prior surge last august 18 towards the Php9.00 zone was met by a heavy selling that led it to close back to Php7.40. A succeeding bearish engulfing candle only validates the market’s position to profit take on the stock. Moving forward, a presence of a bearish high wave candle, one that is accompanied by a spike in volume, plus a succeeding bearish engulfing may lead it to slip back towards its immediate support at Php6.00.

    integrated micro-electronics, inc. IMI spinning top bearish engulfing candle 08.21.16

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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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