• Take-over Speculation Driving RCB To Its 2013 Peak

    Take-over Speculation Driving RCB To Its 2013 Peak

    Rizal Commercial Banking Corporation (RCB) may likely continue to build onto its recent uptrend. As you can see from its chart, the stock has just broken past another interim resistance at the Php58.70 handle. Its break above the said score may then drive it back towards its 2013 peak of Php74.00. Note that the Php73.00 to Php74.00 area translates to RCB at 1.70x P/B. This metric happens to be the price where BPI and BDO placed a bid to take over PNB in the past.

    RCB write-up from the Trading Edge Equity Advisor:

    April 18, 2017

    We are adjusting our technical target on Rizal Commercial Banking Corporation (RCB) from Php45.00 to Php56.00. This is so as the stock has recently broken out from a bigger bullish reversal formation that resembles a rounding bottom pattern. Its move past its interim hurdle at Php41.75 (which happens to be a previous low as well) may then carry it towards its next notable resistance at the Php56.00 mark.

    RCB write-up from the Trading Edge Equity Advisor:

    February 8, 2017

    While Rizal Commercial Banking Corporation (RCB) may pull back in the interim, any weakness should actually be taken as a window to go long on the stock. As you can see, RCB has just swung out of a bullish reversal that resembles a cup and handle. Its move past Php37.00 may then drive it to a measured objective Php44.00 to Php45.00.

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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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