Good Day!
I still cannot believe one of our top news/broadcasting company ABS-CBN, is recently making new low after a nice 21 to 25 rally.
Downtrend is still sloping very hard, and today it did not hold the previous low which is around 21.00
With a P/E ratio of 6.5 (Bloomberg), it is one the cheapest broadcasing company in Asia.
Also, 2019 is senatorial elections in the Philippines.
I know China and Asia are in bear market/sideways pattern, but still,fundamentals are too good, long term growth is there, consistent yearly 0.70 to 1.00 / share cash dividends.
This is a no Brainer. a good BUY.
Foreign sellers, let it be, I will catch whatever I can.
***FYI 2009YR low around 12.00
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