Just sharing stuff…
I did not dare look at the market dynamics nor my portfolio earlier to avoid being in a cold sweat and end up getting whipsawed by my holdings. Like what I said in my previous post, the goal is not to let my emotions get in the way. Although, I was frantically emailing and texting my friends, “So, kamusta ang OV?” every 30-min or so. LONG TERM–I’m sure we have all been there. hehe
Seriously though, its P/E ratio is only 8.21. That’s quite cheap in the sector (OPM‘s 18.86). I still believe that it should be priced at least ₱0.60/sh.
Anyway, at market’s close, I received text messages from fellow traders telling me “Your OV got through the day!” Hallelujah! It crawled up by 6.52%, with a strong close 🙂
So, what happened there?
Now, I am more inclined to believe that it truly was just a healthy consolidation. Today’s range trade was ₱0.0470 – ₱0.0500/sh. Looking at its chart, I see a ‘bullish’ Harami pattern. Although it doesn’t really indicate a trend reversal (since the trend is still upward according to the 22-day EMA), it does indicate a continued uptrend. Moreover, with a negative 2-day FI and an increasing 22-day EMA, the chart tells me that what happened yesterday was just a short-term pullback from an overbought level. MACD and ADX are still in the pink. 🙂
Is it too soon to say that the accumulation strategy I undertook yesterday was right on the mark? Yes. It is still too soon to say. However, if you are still invested in OV, I hope the screenshot (click to zoom) below would keep your hopes up. 🙂
What do you think?
ORE, NI, DIZ
I highlighted these companies because I would be buying them if I had more than enough cash to afford, especially DIZ, if I were looking at the “shorter” short-term. In terms of the GMMA, the long-term lookouts are all auspicious that I would be taking advantage of the shallow dips ahead.
If DIZ would find support above ₱38.5/sh on Monday AND if I would learn more about its fundamentals (honestly, I know nothing about the company yet), I would buy it below ₱41/sh. On the other hand, there’s a bit of a tug-of-war drift between the investors in NI. The indicators are a bit murky, at least in the short-term; first support is at ₱10.4/sh. ORE seems to be following the general trend of NI, in both the long-term and the short-term. First support is found at ₱5.50/sh. Of the three, I have ORE. I’m conservative like that. 🙂