URC: On Track To Meet Target Price

Ron Acoba
updated | Author's Website

universal robina corporation, URC philippine stocks, john gokongwei, ron acoba, cup and handle, daily stock picks, stock market trading
The equities markets have been battered for the last couple of weeks, making majority of the stocks depressed as well. One company, however, appears to be standing strong is Universal Robina Corporation (URC).

Last May 13, 2011, URC broke out from a cup and handle formation. The very next day, the breakout was validated by a strong surge in buying that pushed URC’s price to a high of PHP43.15. Since then, however, URC, has weakened back to around PHP 40.00 before jumping back to PHP 41.50 yesterday. With the whole technical set-up still intact, I would say that URC’s target of PHP 45.00 could be reached sooner than later.

Like I said, the shares of a lot of companies have been so depressed. And without much change in their fundamentals, their fair value estimates would remain as well. However, given these times of uncertainties, I would rather place my money on a company that is both supported by fundamental and technical factors. Moreover, I would rather realize my potential gains sooner than risk it at these times of risk aversion. If there’s any stock that I would invest in now, it would be URC. But that’s just me.

 

 

 

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