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GF EC-058B East Tower, PSE Center, Exchange Road, Ortigas Center, Pasig City, PHILIPPINES 1605 (+632)687-5071 (trunk)
DAILY WRAP & OUTLOOK _ TD110-111_June 7-8, 2011
PSEI Pts Change % Change Volume Value Advancers Decliners Unchanged
Market breadth remained negative sustaining a bearish trend on the year-to-date. Decliners romped over advancers 78
to 54 while 39 issues were unchanged.
The slower-than-projected inflation in May, even as April's number was revised downward to 4.3%, eases some fears of a
third interest rate tweak when the Monetary Board sits next week. However, a pick-up in spending this month, carried
over from the latter part of May, as schools opened a fresh academic year, plus continued volatility in world crude oil
prices wrought by protracted conflicts in the oil rich Middle East region and the OPEC's meeting on production quotas in
Vienna this week, keeps inflation-watch on top of investors' agenda of considerations.
A rebound in equities in European and US equities in early trades may provide reason for investors to take a similar path.
Stocks followed a technical pattern after an extended decline pulled valuations lower. There is also a sense that the sell-
off on lingering concerns over a stalled global recovery may have been overdone. With the US economic front quiet, we
can, at the moment, assign a technical reason for the rebound. Also contributing to the advance may have been the
growing spreads in the credit and bond swaps, particularly in Europe as Greece's debts continue to roil sentiments. On
an equal risk basis, stocks, which have become cheaper than bonds, may have become a more profitable proposition over
the short- to medium-term. That is, until some clarity as to the 2 nd rescue package for Greece is officially announced.
Besides, despite the over-all poor economic numbers that have come out recently, listed-companies have generally pulled
decent earnings figures.
, DISCLAIMER: THE MATERIAL CONTAINED IN THIS PUBLICATION IS FOR INFORMATION PURPOSES ONLY. IT IS NOT TO BE REPRODUCED OR COPIED OR MADE AVAILABLE TO
OTHERS. UNDER NO CIRCUMSTANCES IS IT TO BE CONSIDERED AS AN OFFER TO SELL OR A SOLICITATION TO BUY ANY SECURITY. WHILE THE INFORMATION HEREIN IS
FROM SOURCES WE BELIEVE RELIABLE, WE DO NOT REPRESENT THAT IT IS ACCURATE OR COMPLETE AND IT SHOULD NOT BE RELIED UPON AS SUCH. IN ADDITION, WE
SHALL NOT BE RESPONSIBLE FOR AMENDING, CORRECTING OR UPDATING ANY INFORMATION OR OPINIONS CONTAINED HEREIN. SOME OF THE VIEWS EXPRESSED IN THIS
REPORT ARE NOT NECESSARILY OPINIONS OF ACCORD CAPITAL EQUITIES CORPORATION ON THE CREDIT-WORTHINESS OR INVESTMENT PROFILE OF THE COMPANY OR THE
INDUSTRIES MENTIONED.
DAILY Report Page 1 of 3
ACCORD CAPITAL EQUITIES CORPORATION
GF EC-058B East Tower, PSE Center, Exchange Road, Ortigas Center, Pasig City, PHILIPPINES 1605 (+632)687-5071 (trunk)
DAILY WRAP & OUTLOOK _ TD110-111_June 7-8, 2011
PSEI Pts Change % Change Volume Value Advancers Decliners Unchanged
On the technical front, the index has wiped out over three-
fourths of the advance registered over the preceding four
weeks to 4,297.62 last Friday. As the general bias
remains negative, despite an anticipated technical
rebound today, Wednesday, we keep a heightened watch
at critical pull-back lines. Past the psychological 4,200-
line, initial support is found at 4,135. Meanwhile, the
intermediate level is at 3,600 coincident to the 50% mark
of the Fibonacci line. Long-term support is at 3,090.
Moving higher, we are a bit more conservative, expecting
a breach of the 4,270-4,300 range to invite profit-taking.
Other Disclosures:
Note: Details on the other disclosures could not be downloaded from the Exchange website.
, DISCLAIMER: THE MATERIAL CONTAINED IN THIS PUBLICATION IS FOR INFORMATION PURPOSES ONLY. IT IS NOT TO BE REPRODUCED OR COPIED OR MADE AVAILABLE TO
OTHERS. UNDER NO CIRCUMSTANCES IS IT TO BE CONSIDERED AS AN OFFER TO SELL OR A SOLICITATION TO BUY ANY SECURITY. WHILE THE INFORMATION HEREIN IS
FROM SOURCES WE BELIEVE RELIABLE, WE DO NOT REPRESENT THAT IT IS ACCURATE OR COMPLETE AND IT SHOULD NOT BE RELIED UPON AS SUCH. IN ADDITION, WE
SHALL NOT BE RESPONSIBLE FOR AMENDING, CORRECTING OR UPDATING ANY INFORMATION OR OPINIONS CONTAINED HEREIN. SOME OF THE VIEWS EXPRESSED IN THIS
REPORT ARE NOT NECESSARILY OPINIONS OF ACCORD CAPITAL EQUITIES CORPORATION ON THE CREDIT-WORTHINESS OR INVESTMENT PROFILE OF THE COMPANY OR THE
INDUSTRIES MENTIONED.
DAILY Report Page 2 of 3
ACCORD CAPITAL EQUITIES CORPORATION
GF EC-058B East Tower, PSE Center, Exchange Road, Ortigas Center, Pasig City, PHILIPPINES 1605 (+632)687-5071 (trunk)
DAILY WRAP & OUTLOOK _ TD110-111_June 7-8, 2011
PSEI Pts Change % Change Volume Value Advancers Decliners Unchanged
STOCK LAST CLOSE SUPPORT RESISTANCE RSI(14) STO (14,3,) EMA(10) EMA(150)
PSEI 4,236.45 4,220.00 4,270.00 47.23 55.30 4,269.18 4,055.42
BDO 58.00 57.50 59.00 57.11 65.26 57.96 53.75
BPI 57.55 55.00 60.50 50.40 73.70 57.33 55.90
CHIB 420.00 415.00 442.50 40.43 32.20 421.88 426.17
MBT 71.00 63.00 75.00 57.96 62.21 70.48 66.16
AC 384.00 375.00 397.50 51.80 65.57 384.67 372.09
AEV 39.75 38.80 42.00 50.06 56.95 39.90 36.95
AGI 9.90 9.80 11.00 27.31 5.28 10.37 10.84
JGS 26.00 25.00 27.00 51.68 46.36 26.14 22.54
LPZ 6.15 5.85 6.30 42.83 11.90 6.40 5.55
MPI 3.40 3.30 3.50 42.45 40.87 3.43 3.53
SM 565.00 520.00 570.00 52.55 65.91 564.21 522.54
AP 29.20 27.00 31.00 45.49 53.62 29.38 28.41
DMC 41.40 38.00 44.00 45.43 41.60 41.65 37.03
EDC 6.50 6.40 6.80 46.68 57.63 6.59 6.12
FGEN 14.40 13.75 15.50 46.47 28.84 14.61 12.95
FPH 62.55 61.50 64.00 46.56 33.33 63.20 60.71
HLCM 11.20 10.50 11.50 42.12 15.69 11.18 11.52
JFC 88.00 79.00 89.00 46.49 64.31 87.98 85.30
MER 265.20 257.00 270.00 62.04 78.80 257.11 233.45
MWC 18.32 17.50 18.50 56.37 78.33 18.29 18.04
PCOR 13.50 13.30 14.60 45.09 36.02 13.47 1.00
URC 42.80 39.00 45.00 64.67 79.47 42.47 12.87
LC 0.900 0.890 0.930 60.80 61.79 0.881 0.724
LCB 1.050 0.980 1.090 67.45 76.85 0.981 0.592
PX 20.45 18.50 21.00 60.17 62.67 20.32 16.07
SCC 209.00 202.00 217.00 40.73 10.90 211.95 196.52
ALI 15.02 15.00 16.50 35.56 19.72 15.54 15.70
FLI 1.19 1.18 1.32 41.63 16.67 1.22 1.20
MEG 2.04 1.94 2.14 41.36 42.67 2.07 2.15
RLC 12.16 11.50 13.00 37.48 25.91 12.48 13.55
SMPH 11.74 11.34 12.00 46.18 51.11 11.86 11.42
VLL 3.20 3.00 3.25 55.55 40.00 3.20 2.92
ABS 39.50 37.50 43.00 44.00 41.90 39.99 43.16
GLO 860.00 830.00 890.00 48.59 39.39 868.13 824.79
ICT 51.00 48.00 53.00 51.86 46.93 51.53 44.20
Rules of Thumb: RSI - <30, oversold/>70 overbought; STO - <20, oversold/ >80 overbought; Generally, oversold conditions merit a
BUY, overbought signals an oncoming SELL; EMA's are used as reference to locate index/price and serves as important support-
resistance levels.
, DISCLAIMER: THE MATERIAL CONTAINED IN THIS PUBLICATION IS FOR INFORMATION PURPOSES ONLY. IT IS NOT TO BE REPRODUCED OR COPIED OR MADE AVAILABLE TO
OTHERS. UNDER NO CIRCUMSTANCES IS IT TO BE CONSIDERED AS AN OFFER TO SELL OR A SOLICITATION TO BUY ANY SECURITY. WHILE THE INFORMATION HEREIN IS
FROM SOURCES WE BELIEVE RELIABLE, WE DO NOT REPRESENT THAT IT IS ACCURATE OR COMPLETE AND IT SHOULD NOT BE RELIED UPON AS SUCH. IN ADDITION, WE
SHALL NOT BE RESPONSIBLE FOR AMENDING, CORRECTING OR UPDATING ANY INFORMATION OR OPINIONS CONTAINED HEREIN. SOME OF THE VIEWS EXPRESSED IN THIS
REPORT ARE NOT NECESSARILY OPINIONS OF ACCORD CAPITAL EQUITIES CORPORATION ON THE CREDIT-WORTHINESS OR INVESTMENT PROFILE OF THE COMPANY OR THE
INDUSTRIES MENTIONED.
DAILY Report Page 3 of 3