{"id":328908,"date":"2024-08-13T10:02:46","date_gmt":"2024-08-13T02:02:46","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=328908"},"modified":"2024-09-01T22:39:08","modified_gmt":"2024-09-01T14:39:08","slug":"stock-picks-for-the-week-aug-12-16-2024-by-first-metro-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-picks-for-the-week-aug-12-16-2024-by-first-metro-securities\/","title":{"rendered":"Stock Picks for the week (Aug 12-16, 2024) by First Metro Securities"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Recap: Stock market last week<\/h2>\n\n\n\n<p>Last week, the benchmark index rose by 0.64% week-on-week to close at 6,647.80 points. The index started the week lower due to a global equity slump sparked by unwinding of yen carry trades and recession fears in the US. Sentiment was likewise dampened locally by higher-than-expected July inflation at 4.4% (vs. June 2024: 3.7%; vs. estimate: 4.1%). Later in the week, however, market sentiment improved as recession fears were deemed exaggerated and as the Bank of Japan reassured markets about future rate hikes. The better-than-expected 2Q 2024 PH GDP of 6.3% (vs. 1Q 2024: 5.8%) may have also boosted confidence.<\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">PSE outlook this week<\/h2>\n\n\n\n<p>This week, we expect a volatile market with a slight downward bias as investors await the Bangko Sentral ng Pilipinas (BSP) policy rate decision. We note a change in tone from BSP Governor Eli Remolona, indicating that a rate cut is &#8220;a little bit less likely&#8221; because of the higher-than-expected inflation in July. However, the market still expects the BSP to cut policy rates by 25 bps (0.25%) in its August 15 meeting. <\/p>\n\n\n\n<p>We also expect increasing trading activity as investors adjust their portfolios due to the PSEi rebalancing (effective 12 Aug 2024) and the MSCI quarterly rebalancing announcement (on 13 Aug 2024). Additionally, throughout the week, investors will digest a number of earnings reports and key economic data releases such as PH cash remittances and US inflation.<\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Stock Picks this week<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">1. Century Pacific Food, Inc. (CNPF)<\/h3>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Recommendation<\/strong><\/td><td>Buy on pullbacks<\/td><\/tr><tr><td><strong>1-Year Target Price<\/strong><\/td><td>PHP 37.50<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>CNPF has been consolidating in a wide range between PHP36.00 to PHP32.00 following a sizeable 50% run-up from its breakout in Aug 2023. Key moving averages (50-day, 100-day, and 200-day) have started to coil sideways, while momentum indicators MACD and RSI are hovering around neutral zones, indicating the onset of an extended consolidation phase. <\/p>\n\n\n\n<p>Thus, we recommend accumulating at established support around the PHP32.00-PHP31.00 area in preparation for the next leg-up. Accumulate CNPF once it reaches PHP32.0. Take profits at around PHP36.8 and set your stop loss below PHP29.40.<\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">2. Bank of the Philippine Islands (BPI)<\/h3>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Recommendation<\/strong><\/td><td>Buy on pullbacks<\/td><\/tr><tr><td><strong>1-Year Target Price<\/strong><\/td><td>PHP 141.00<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>BPI is trading within a long-term upward channel, showing signs of consolidation in<br>the immediate-term. The 20-day MA (PHP 123.11) is a key resistance level, while support is seen at the 50-day MA (PHP 120.15) to PHP 115.00. In terms of momentum indicators, the RSI at 43.08 indicates neutral to slightly bearish momentum, and the MACD showing a bearish crossover suggests weakening momentum.<\/p>\n\n\n\n<p>Accumulating BPI once it pulls back to PHP 115.00 is advisable. Set stop limit orders below PHP 107.00 and take profits  above around PHP 132.00. For long-term investors, we have a fundamental target price of PHP 141.00.<\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">3.\u00a0Semirara Mining and Power Corp. (SCC)<\/h3>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Recommendation<\/strong><\/td><td>Buy on pullbacks<\/td><\/tr><tr><td><strong>1-Year Target Price<\/strong><\/td><td>PHP 37.05<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>SCC formed a gap-down pattern following its ex-dividend date last 8 Apr 2024, dropping to its year-to-date (YTD) low of PHP 28.75. After establishing support around this level, the stock bounced back and rallied by as much as 18.5%. Currently, SCC is consolidating between PHP31.60 to PHP34.00 and is hovering around PHP 31.60 to 200-day MA which acts as its immediate support level.<\/p>\n\n\n\n<p>Accumulate SCC around PHP31.60 to 200-day MA. Set stop loss limit order below PHP 29.07 and take profits around PHP 36.34.<\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p style=\"font-size:16px\"><em><em>This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about <a href=\"https:\/\/www.pinoyinvestor.com\/smartinvestor\/our-partner-brokers\/\">our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our stock picks for the week<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1372,11],"tags":[],"class_list":["post-328908","post","type-post","status-publish","format-standard","hentry","category-stock-picks","category-special-reports","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328908","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=328908"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328908\/revisions"}],"predecessor-version":[{"id":328910,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328908\/revisions\/328910"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=328908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=328908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=328908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}