Filinvest Development Corporation (#FDC) is Up By 125.45% in Just 6 Months
Filinvest Development Corporation (FDC) has been on a strong bull run in the last 6 months, rising by a whopping 125.25% from only Php7.23 to a high of Php16.30. Strong earnings growth of 46% to Php10.50 billion in 9M18 and 31% to Php13.40 billion for the entire 2018 plus a recent deal to operate the Clark airport for 25 years has led the stock further in the uncharted zone. Technically, one may be able to ride a good portion of its recent up leg by entering on key buy points seen in its 25-year chart. The first buy point would be its rise over its Php8.00 resistance on heavy volume last November 21, 2018. The second important buy point would be when it rose over its all-time high of Php11.76 last December 19, 2018. Of course, one would not be able to see the mentioned major buy points without looking at the stock’s multi-decade price history.
As of late, one can see that the stock has already reached its indicated measured target at Php16.00. While its current uptrend is still intact, one may already notice a presence of a bearish divergence between its price and its momentum indicator RSI. It is also quite obvious that the stock’s angle of ascent has started to flatten. These indicate that the stock’s up leg may soon come to an end. From a strategic point of view, one should place an importance on its recent low of Php14.60, the level where its 50-day moving average and an upward sloping support line both pass through. A break below the mentioned level would warrant a “take profit” action.
FLI write-up from the Trading Edge Equity Advisor:
November 25, 2018
Filinvest Development Corporation (FDC) may likely extend its recent run up. As you can see, the stock has just broken past its 2016 to 2017 resistance at Php8.25 on good supportive volume. Its rise above the said handle may then lift it all the way back to its all-time peak at around Php11.35 to Php11.76. Note, though, that a strict stop below Php8.25 must be placed.
FLI write-up from the Trading Edge Equity Advisor:
December 20, 2018
In our Equity Advisor issue last November 25, we noted that Filinvest Development Corporation (FDC) would reach for its previous high of Php11.76. As you can see from its chart, the stock has indeed achieved the mentioned score and has even rise to a new high of Php12.92, giving it a 45.25% increase inside just 3 weeks! Moving forward, a sustained rise above Php11.64 may send further in the uncharted territory to an estimated goal of Php15.90. Note, though, that a stop loss trigger must be placed below Php11.64.
FLI write-up from the Trading Edge Equity Advisor:
January 3, 2019
Filinvest Development Corporation (FDC) may likely continue to rise in a faster pace. As you can see, the stock has just broken out from a bullish flag pattern. Following its break above its prior resistance at Php12.92, the stock may then aim for its original goal of Php15.90 to Php16.00. Note, though, that a stop loss trigger must be placed below Php12.92.
FLI write-up from the Trading Edge Equity Advisor:
February 14, 2019
Filinvest Development Corporation (FDC) may likely extend its current bull run. As you can see, the stock has broken out from a high tight flag in its weekly setting. Its rise over its resistance at Php13.00 on heavy volume may send it to a minimum goal of Php16.00 or even all the way to Php20.00. Note, though, that a stop loss trigger must be placed below Php13.00. It is also prudent to use either a 10 or 20 MA as a trail stop in case the stock fails to reach the mentioned target.
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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!
