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    JG Summit Holdings, Inc.: Trading Signals

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    JM Cr
    The document provides a trading signals report for JG Summit Holdings, Inc. and the Philippine Stock Exchange index (PSEi) dated February 1, 2018. It summarizes the technical analysis of JG Summit stock and recommends watching support at PHP76 and selling on a breakdown. For the PSEi, it notes support at 8,750-8,770 and risk of a test of 8,670 support on a failure to rebound from current levels. Bargain hunters are expected to step in at next PSEi support zone of 8,750 to 8,770.

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    JG Summit Holdings, Inc.: Trading Signals

    Uploaded by

    JM Cr
    22 views3 pages
    The document provides a trading signals report for JG Summit Holdings, Inc. and the Philippine Stock Exchange index (PSEi) dated February 1, 2018. It summarizes the technical analysis of JG Summit stock and recommends watching support at PHP76 and selling on a breakdown. For the PSEi, it notes support at 8,750-8,770 and risk of a test of 8,670 support on a failure to rebound from current levels. Bargain hunters are expected to step in at next PSEi support zone of 8,750 to 8,770.

    Original Description:

    RESEARCHREP_TS01Feb18

    Original Title

    RESEARCHREP_TS01Feb18

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    The document provides a trading signals report for JG Summit Holdings, Inc. and the Philippine Stock Exchange index (PSEi) dated February 1, 2018. It summarizes the technical analysis of JG Summit stock and recommends watching support at PHP76 and selling on a breakdown. For the PSEi, it notes support at 8,750-8,770 and risk of a test of 8,670 support on a failure to rebound from current levels. Bargain hunters are expected to step in at next PSEi support zone of 8,750 to 8,770.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    22 views3 pages

    JG Summit Holdings, Inc.: Trading Signals

    Uploaded by

    JM Cr
    The document provides a trading signals report for JG Summit Holdings, Inc. and the Philippine Stock Exchange index (PSEi) dated February 1, 2018. It summarizes the technical analysis of JG Summit stock and recommends watching support at PHP76 and selling on a breakdown. For the PSEi, it notes support at 8,750-8,770 and risk of a test of 8,670 support on a failure to rebound from current levels. Bargain hunters are expected to step in at next PSEi support zone of 8,750 to 8,770.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    Trading Signals

    February 1, 2018
    JG Summit Holdings, Inc.
    Bloomberg: JGS PM / Reuters: JGS.PS

    Charts Speak Louder than Words

     Analysis: The stock now looks to re-test its short term support at Php76.00. Note that failure
    to hold above S1 would lead to a test of its lower support at Php 71.80 to Php72.00.

     Trading Plan: Watch support at PHP76.00. Sell/avoid on a breakdown or buy on a bounce to


    trade the range. Resistance levels are at PHP 80.50-81.00 and PHP84.00.

    Minutes of the Morning Meeting


    Expect the PSEi to take a breather from its 2-day selloff, as bargain hunters look to step in at the mar-
    ket’s next support zone at 8,750 to 8,770. Earnings releases will ramp up this Feb. (starting w/ MBT),
    which should provide additional leads for the market. US stocks managed to hold onto late gains, af-
    ter the Fed statement expressed more confidence that inflation will rise to its 2% target.

    PH FY17 RESULTS:
    *Feb 1 - MBT
    *Feb 6 - GLO
    US ECO DATA:
    *ADP Employment Change: 234k for Jan. (vs. 190k est. & 250k prior).
    FED MEETING:
    *Benchmark rate range unchanged, as expected, to 1.25%-1.50%.
    *The Fed thinks inflation should stabilize around its 2% target this year.
    *The Fed removed references to hurricane-related disruptions and rebuilding efforts.
    *Traders expect the next rate hike in March—the first meeting w/ Powell as Chairman.

    FirstMetroSec research is available through Bloomberg.


    11
    Just type in FMSC <go>.
    Trading Signals

    PSEi Technical Analysis ANALYSIS:


    SUPPORT: 8,750-8,900 RESISTANCE: 9,100-9,190

     The PSEi closed below 8,900 (S1), and stands


    just at the tip of its next lower support zone at
    8,750 to 8,770 (S2).

     Failure to rebound from this level would lead the


    index to test its 38.2% retracement level at
    8,670 (S3), and psychological 8,600 support.

     MACD readings have also given a signal to take


    profits, after the MACD line crossed below the
    signal line.

    TRADING PLAN:

     Those who bought close to 8,750 may look to


    lighten on positions if its previous support at
    8,900 becomes a new resistance. Keep stops on
    a break below 8,670 to be safe.

    2
    Trading Signals

    Disclaimer: All information contained herein is obtained by First Metro Securities from sources believed by it to be
    accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however,
    the information is provided “as is” without warranty of any kind and First Metro Securities, in particular, makes
    no representation or warranty, express or implied, as to the accuracy, timeliness, completeness, merchantability,
    or fitness for any particular purpose of any such information. Under no circumstances shall First Metro Securities
    have any liability to any person or entity for any loss or damage in whole or in part caused by, resulting from, or
    relating to, any error (negligent or otherwise) or other circumstance or contingency within or outside the control
    of First Metro Securities. The information contained herein is, and must be construed solely as, statements of
    opinion and not statements of fact or recommendations to purchase, sell, or hold any securities. This document,
    and any opinion contained herein, must be weighed solely as one factor in any investment decision made by or
    on behalf of any user of the information contained herein, and each such user must accordingly make his/her
    own study and evaluation of each security and of each issuer that it may consider purchasing, selling, or holding.

    First Metro Securities Brokerage Corp.


    Research Department
    18/F PSBank Center

    777 Paseo de Roxas cor. Sedeño St.

    Makati City 1226

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