Trans-Asia Update : Cup and Handle forming

Trans-Asia :

 

 

PSEi - Trans-Asia Corp.

     Trans-Asia is now in a Cup and a Handle formation. Target Price is now set to P3.30.
MACD is Bullish but in in an overbought range.
Moving Average is also Bullish in short and mid-long term.
RSI is above 70 at 70.2
Acct/Dist is still in accumulation stage.
Ultimate in nowhere near the 70 range at 55.14

Trans-Asia : Ready for take off ?

Trans-Asia Energy Development Corp. on the Rise :
Trans-Asia is the largest oil comp-exploration and production company by market capitalization in the Philippines. The stock rose last Tuesday to P2.62/share bringing it's three day rise to 30 centavos or 12.9%. ( http://investing.businessweek.com )

Trans-Asia Oil and Energy Development

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Will Trans-Asia continues its accent and eventually climb and pass the 2.72 barrier ?
The good news is Trans-Asia posted a nearly four fold first quarter net income, from P41.8M posted a year ago to P164.9M same quarter this year.  Apart from this, the company is aiming to double its power capacity to 400 MW in the next few years. (http://www.philstar.com/business/2013/04/24/934112/trans-asia-earnings-surge-almost-4-fold)
 Is this enough for TA take off ?

PSEi marks another historic milestone

PSEi Bull unstoppable ?

 

The Philippines bourse mark its 26th high record only last Friday and add another monumental feat Monday, its 27th by piercing the 2,700 and 2,710 level for the first time.

 

Here are some of leading news reports on PSEi breakout :

 

 PSEi makes history, hits 7,000 mark by Jerome Morales(philstar.com)
 PSEi breaches 7,000 level for the first time ABS-CBNnews.com  

  PSEi breaks 7,000 mark by Doris C. Dumlao Philippine Daily Inquirer

  PSEi breaches 7,000 mark for the first time Sunstar.com.ph 

  PSEi surges past 7000 pts for the 1st time Business Mirror

  Another first : PSEi breaks 7,100 level RAPPLER.COM

 

This picture belongs to Rappler.com

PSEi Soars to another Record High

The Bourse aim its mark to 7000

Last Friday, April 19, the PSEi closed at 6,957.10 and set another record high, its 26th peak for this year. Meanwhile, the broader all-share index inched up to 4,348.67, 1.15% more from 4,299.20. Data have shown that the bourse index had risen 19.7 percent or 1,144.37 points since the start of the year. 

 

PSE president and chief executive Hans Sicat share his optimism as he expect the market to reach another breakthrough and continue its bull run,  as more positive first-quarter earnings reports continue to pour in.

Many analyst from various stock brokerage firms share the same optimism of the PSE president. 

BPI Asset expect the local equities market to breach the 7,000 level this week on anticipation that the MB would reduce SDA rates further this coming Thursday.  BDO Unibank chief market strategist Jonathan Ravelas expect this week bourse index to trade between 6,750 and 7,000.  Meanwhile, analyst from brokerage Angping & Associates Securities, Inc - Elizabeth S. Abadillo, expect the market outlook for this week to go up and reach the 7,000 level.  On the other hand, Manny Cruz, chief strategist at Asiasec Equities. think the index can test the 7000 level this week.  Another analyst from online brokerage 2TradeAsia.com, Freya May B. Natividad, believe optimism might dominate the market and expect initial support and resistance for PSEi this week at 6,900 and 7,000-7,100 levels.  And Jun Calaycay of Accord Capital Equities said, "The overall outlook remains bullish and significant pullbacks, when they occur, should present buying opportunities".

 

The continued release of corporate earnings is also expected to influence trading this week. Listed firms have until May 15 to submit their first-quarter results, according to PSE rules. - See more at: http://www.bworldonline.com/content.php?section=StockMarket&title=PSEi-seen-poised-to-top-7,000&id=68986#sthash.9qcpCmz6.dpufhe continued release of corporate earnings is also expected to influence trading this week. Listed firms have until May 15 to submit their first-quarter results, according to PSE rules. - See more at: http://www.bworldonline.com/content.php?section=StockMarket&title=PSEi-seen-poised-to-top-7,000&id=68986#sthash.9qcpCmz6.dpuf

 With all the continued positive market outlook, the continued release of first quarter corporate earnings by listed companies is expected to influence trading this week to May 15 deadline as more  corporations report faster growth, and higher income.  Among the first to submit their first quarter report are BDO and SMPH. BDO, Unibank inc. posted an impressive P10B net income, almost four times from its P2.8B income last year. SMPH, its sister company, posted a 14.14 percent increase net income from P2.5B last year to almost P2.9B this year. 

The market is also expecting a possible 2nd investment grade upgrade this coming May, and with the prospective cut in SDA ( special deposit account ) rates plus the nation GDP prospect of 6-7 percent, the Market has a positive outlook for more optimistic opportunities and possibilities.

PSEi Hits New Record

PSEi Hits Fresh Peak

 

Source: PSE

The bourse closed to a fresh new record high of  6,891.43  last Friday from 6,847.47 last peak on March 27  buoyed by record-breaking trades in Wall Street and expectations of better first-quarter corporate earnings at home. Alongside with record-low local interest rates, this boosted the risk-taking even as the local stock valuations have mostly hitting on expensive grounds. 

All of the index sub indices end in positive with the exception of Industrial counter.

 

 Source: PSE

 The index is 2.5% up from the previous week. Year to date, the local stock market is now up 18.56% from last year close of 5,812.73 and its Friday’s finish set the 25th time that the PSEi set new record closing levels this year. 

 

 

Source: PSE

The PSEi index is also looking forward to break the record intra-day high of 6,956.92 recorded on April 1. 

Source: PSE

 

 

Bourse index biggest gainer is DMCI.

 

Total Volume	4,586,314,127
Total Trades	26,588
Total Value	7,590,290,394
Advances	99
Declines	54
Unchanged	48