Stock In Focus: $FNI, $PSPC & $BEL as of 18 May 2015

Here’s the stock in focus:

GLOBAL FERRONICKEL HOLDINGS INC (FNI)

Global Ferronickel Holdings Inc (PSE:FNI) is in a trading range between 1.80 to 1.92. This is supported by its RSI which is neither oversold nor overbought and ADX which is chopping around sideways.

range trade fni

Considering that short and midterm trend is still bearish as per ichimoku elements, a support at 1.76 breaks, another support at 1.75 and 1.73 should hold.

Last May 15, I thought that it formed a sideways triangle pattern like this one:

sideways pattern

But today’s closing price formed a descending triangle as described below:

descending triangle

This descending triangle or right angle triangle, which is a valid descending triangle since the bottom (low) can be found at 1.76 (May 12 & May 18, 2015 low). In a descending triangle, two or more comparable lows form a horizontal line at the bottom.

If this will validate the descending triangle, just observe the break of the support at 1.73.  What would be the sentiment in the break of support? The global news, Nickel Falls As Inventories Rise dated 15 May 2015 could be a short term factor.

With this current price at 1.77, margin of safety is high.

 

PHOENIX SEMICONDUCTOR PHILIPPINES CORP (PSE:PSPC)

PSPC price action seems slowly moving up.  Some indicators are showing short term bullishness but the overall short term trend is still bearish.

pspc

I’m looking at 3 support-turned resistance levels at 2.43, 2.52 and 2.55 while revisiting support at 2.22 is unlikely.

 BELLE CORPORATION (PSE:BEL)

BEL is becoming attractive while near at all-time low. My previous technical analysis on BEL dated March 27, 2015 is exactly the trend now however, in a daily chart, it is in a range trading.  Midterm trend is still in strong bearish direction as per ADX however, the volume while on downtrend is decreasing.  Trend reversal may happen soon.

Looking at the current plans of the Company:

1. Belle is spending P3 billion to P4 billion in capital expenditures for this year.

2. The Company’s Vice Chairman said that the Company is planning to spend the amount to complete some of its developments in Tagaytay.  It is expected to complete the last phase of its Lakeside Fairways and its 27-hole golf course in Tagaytay Midlands in Batangas.

3. Belle said it is now on its seventh phase of Lakeside Fairways apart from the nine holes of Tagaytay Midland golf course. Both projects are expected to attain 100-percent completion in 2015

4. The company is also targeting to complete its Sycamore Heights, a 26-hectare gated community being developed into 336 residential lots averaging 352 square meters per lot.

5. Five (5) investment analysts 5 covering Belle Corporation has (3) buy recommendation while (2) outperform with fair value at 7.69 (high), 6.77 (med) and 5.76 (low)                  source:  Financial Times

5 thoughts on “Stock In Focus: $FNI, $PSPC & $BEL as of 18 May 2015

  1. how much po kaya TP (till end of 2016?) ng $FNI? around 2.7 kasi yung sakin. 🙁 I’m still holding. Thanks

    • In my opinion, I think that FNI management is in a difficult situation to target FNI in its desired FOO price because FNI is being undervalued by the market forces due to negative sentiment of nickel prices. There must be another catalyst that will bring the price to its desired level so Management can proceed with the FOO. Religare has a TP of 2.94/share based on average LME nickel price of $15,000 in 2015 and $18,000 in 2016.

  2. Can you please give me top 5 brokers (based on amount they have) who are still holding their shares for $FNI?? PLEASE… I’m still sad kasi… 🙁

    • Hi Steph, I notice clients for 4 brokers accumulating FNI for the past 2 months, UBS is accumulating or on bodega mode worth P18.2M with an average price of P2.14, DP-Daiwa Securities at 6.5M with an average price of 1.76, Credit Suisse has 2.76M at average price of 1.79, Sarangani Securities has 1.9M at average price of 1.93. They are not selling any single share. Wealth Sec is a top buyer still net buy worth 192M.

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