Stocks and Indices that are below 30 RSI. Oversold. 8-20-2015

There are a lot of stocks which are extremely oversold, which have potential medium to long term, some of them like SECB, GTCAP, EDC and MBT.

But the weakening of PHP with effect of weakening Stock Market is insisting me to BUY ahead and catch the falling knives.

Another major reason I am not yet bringing all the guns is that PSE in the US broke below the triple support, assuming it also happens in the local PSE. We should see PSE breaking below 7250 as well.

Philippine Banks Review (BDO, SECB, RCB, MBT, PNB, BPI) 7-28-2015

Philippine Banks post the biggest and longest decline since 2013. And the weakest sector in the Philippines right now. I find it hard that some banks are already trading at 10x PE. And are very very interesting in terms of price valuation.

I know most banks have a hard time earning from their trading gains, which brings only around 10-20% additional income to a bank. Other income generation from different sectors are still good in the Philippines.

Most banks broke down from their 2 year uptrend, and is getting closer to 2009 uptrend support (6 year uptrend support). I still recommend BUY on most banks (have BDO, RCB and SECB right now)

Two concerns are EUROPE and US Elliot Wave count is nearing this "decisive" Q3-2015 Q4-2015 and Q1-2016, which has a high probability that Primary Wave IV is coming.

Good Luck !

Philippine Banks snapshots: BDO, BPI, MBT, PNB, RCB, SECB 12-5-2014

SECB: has potential 3-18-2014

 

Of all the banks, almost all have already rallied 10% or more from their 2013-2014 lows.

One bank I saw which have not yet increased by 10% is SECB.

It was due to 36% lower income for Q4 2013. But for me, all banks really did have an awful Q4 due to lower trading gains.

Long Term uptrend is still intact in DARK BLUE and short term uptrend intact as well,both pointing to 110-111 a good support, a break below is a different scenario.

Talking aside in case it held and goes to upside, a triangle formation is in a good chance to trigger a rally in the coming weeks/months to come.

A breakout to 116resistance of the triangle pattern will have a target of 126-128 then 130-133 upside(15-20% upside)

Talking about fundamentals:
Bloomberg - 12x PE
COL - 14x forecasted/computed PE
PSE - 7x PE (I believe Q4 income not yet computed here)

There is a good chance that SECB and other banks could outperform in the coming months, as PSEi increased by 10% this Q1.