8990 Holdings (#HOUSE) Has Risen by 144% Since Its Former President Resigned
Luis N. Yu-owned 8990 Holdings, Inc. (HOUSE) has staged a massive recovery and run-up since its former president, JJ Atencio, left the company last January 3, 2018. Since then, the stock has ripped to a new all-time high of Php16.40 from a multi-year low of Php6.70, or a rise of 144% inside 18 months. Although the author was a little late to the party, he was still able to ride a meaningful portion of the said ascent. Further extension of the stock’s bull phase was indicated when it breached its all-time peak of Php10.50. It was at this time when the author decided to come in. Since breaking the said high, the stock has risen by another 56%+ to a new all-time high of Php16.40. It is around the Php15.50 to Php16.20 zone where the author decided to take profit on his 750,000 shares to book a gain of 40% or roughly Php3 million pesos in just 4 months. Fundamentally, consensus gives the stock a 12-month fair value estimate of Php16.25. It is this fact plus the need to raise cash to position for a potential ‘bagger’ that the author decided to take profit on most of his shares. Technically, though, the stock’s uptrend which is exhibited by its stair step action is still intact. Holders may choose to just trail it with a 21-day moving average.
HOUSE write-up from the Trading Edge Equity Advisor:
April 22, 2019
We are reiterating our technical buy rating on 8990 Holdings, Inc. (HOUSE). As you can see from its chart, the stock has just freed itself from another Darvas’ box. Its break above its prior range’s resistance at Php13.58 and the lack of resistance ahead indicate that the stock may continue to march higher. Note that the stock is set to reach for its original goal of Php15.00. Remember, though, to place a stop loss trigger below its recent reaction low of Php12.80.
HOUSE write-up from the Trading Edge Equity Advisor:
March 30, 2019
We are upgrading our technical target of 8990 Holdings, Inc. (HOUSE) to Php15.00 from Php12.43. Following its break above its prior peak at Php10.50, the stock has continued to rise towards its initial goal of Php12.43. As you can see, the stock has not only reached its initial goal but has also surpassed it. Moving forward, a recent break from a newly formed bullish pennant or flag may actually extend its up wave. Its move above its prior high of Php12.46 on good supportive volume may then send it to an adjusted objective of Php15.00. Note, though, that a trailing stop should be placed below Php12.46.
HOUSE write-up from the Trading Edge Equity Advisor:
February 11, 2019
8990 Holdings, Inc. (HOUSE) may likely continue to trade further into the uncharted territory. This is so as the stock has just broken past its prior all-time high at Php10.36 and in the process has marked a new all-time score at Php11.00. Given the said break and the lack of resistance ahead, the stock may then reach for a minimum goal of Php12.43. Note, though, that a stop loss trigger must be placed below Php10.36.
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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!
