{"id":329102,"date":"2024-08-20T23:46:49","date_gmt":"2024-08-20T15:46:49","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329102"},"modified":"2024-09-01T22:39:08","modified_gmt":"2024-09-01T14:39:08","slug":"stock-picks-for-the-week-aug-19-23-2024-by-first-metro-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-picks-for-the-week-aug-19-23-2024-by-first-metro-securities\/","title":{"rendered":"Stock Picks for the week (Aug 19-23, 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 PSEi surged 3.0%, closing at 6,847.37 (up 199.57 points), driven by corporate earnings releases, positive overseas economic data, and a 25 bps cut in key interest rates by the Bangko Sentral ng Pilipinas (BSP) to 6.25%. Markets cheered better-than-expected US economic data for July 2024 &#8211; PPI at 2.2%, CPI at 2.9%, and retail sales growth data at 1.0% &#8211; which eased recession concerns.<\/p>\n\n\n\n<p>Additionally, the BSP cut key interest rates to support the local economy, citing that risk-adjusted inflation has tilted to the downside for this year and next year.<\/p>\n\n\n\n<p>Finally, investors digested the results of the MSCI Quarterly Index Review for August 2024, which saw the Philippines receive a slight country downweight (-0.009%). There will be no changes to the MSCI Philippines Standard Index. Meanwhile, DigiPlus Interactive Corp. (PLUS) was added to the MSCI Philippines Small Cap Index &#8211; replacing Security Bank Corp. (SECB). These changes will be implemented as of the close of August 30, 2024 (effective September 2, 2024).<\/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 the local bourse to follow-through last week&#8217;s positive momentum. Investors will focus on the FOMC minutes and several Fed speeches early in the week. Chairman Jerome Powell is set to headline the Jackson Hole Symposium, where various central bank leaders from around the globe will discuss current global financial trends and affairs.<\/p>\n\n\n\n<p>On the commodity front, fuel price increases may dampen investor sentiment, with gasoline, diesel, and kerosene prices expected to rise by PHP0.65 to PHP0.90\/litre, PHP0.95 to PHP1.10\/litre, and PHP0.95 to PHP1.00\/litre, respectively.<\/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. \u00a0SM Investments Corp. (SM)<\/h3>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Recommendation<\/strong><\/td><td>Buy<\/td><\/tr><tr><td><strong>1-Year Target Price<\/strong><\/td><td>PHP 1,030.00<\/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>SM has been range-trading between the PHP800.00 to PHP1,000.00 region since 2018 alongside key moving averages (50-day, 100-day, and 200-day). Additionally, Momentum indicators have also swung from oversold to overbought levels contingent on overall market sentiment. As the market turns bullish, we see SM to follow suit and trend to the upside.<\/p>\n\n\n\n<p>Accumulating SM at current levels is advisable. Set your stop loss 8% below your average. Take profits when the counter hits 15% above your average cost.<\/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. ACEN Corp. (ACEN)<\/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 6.30<\/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>ACEN has recently exhibited a strong bullish trend, with its price rising above key moving averages (20-day, 50-day, 100-day, and 200-day) and reaching a new 52-week high at PHP5.90. However, with the stock nearing overbought conditions and momentum slowing as indicated by the RSI and MACD, a short-term consolidation or pullback may be likely. <\/p>\n\n\n\n<p>While the uptrend could continue with a break above recent highs, traders should monitor support levels for potential entry points. Investors might consider waiting for a pullback to PHP5.50 levels before initiating a long position to capitalise on higher upside potential. Accumulating ACEN once it pulls back to PHP5.50 is advisable. Set stop limit orders below PHP5.10 and take profits above PHP6.33.<\/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.\u00a0Areit, Inc. (AREIT)<\/h3>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Recommendation<\/strong><\/td><td>Trailing Stop<\/td><\/tr><tr><td><strong>1-Year Target Price<\/strong><\/td><td>PHP 32.20<\/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>AREIT is currently trading on an uptrend, hovering above 50-day, 100-day, and 200-<br>day key moving averages (MA). However, AREIT is nearing overbought condition, hence, a pull back is imminent. At current levels, it is advisable to secure gains or implement trailing stops.<\/p>\n\n\n\n<p>Implementing trailing stops is advisable. Next support level is at PHP38.00.<\/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-329102","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\/329102","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=329102"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329102\/revisions"}],"predecessor-version":[{"id":329104,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329102\/revisions\/329104"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}