{"id":329909,"date":"2024-10-15T10:33:56","date_gmt":"2024-10-15T02:33:56","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329909"},"modified":"2024-10-15T10:33:58","modified_gmt":"2024-10-15T02:33:58","slug":"stock-picks-for-the-week-oct-14-18-2024-by-first-metro-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-picks-for-the-week-oct-14-18-2024-by-first-metro-securities\/","title":{"rendered":"Stock Picks for the week (Oct 14-18, 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 ended its 5-week winning streak, dropping by 2.11% week-on-week to close at 7,310.32 (-157.60 points). The market began the week on a high note, reaching levels not seen since January 2020. However, positive sentiment was short-lived due to inflation concerns, with the Peso depreciating back to the PHP57.0 level and global oil prices rising to two-month highs amid the ongoing conflict in the Middle East. Additionally, the US CPI came in higher than expected at 2.4%, compared to the consensus estimate of 2.3%, dampening expectations of further aggressive monetary policy easing from the Federal Reserve, and exacerbating the bearish sentiment.<\/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 anticipate cautious market action with a slight downward bias due to a lack of catalysts and as investors brace for the upcoming earnings season. The market will primarily take cues from several Fed speeches and Wednesday\u2019s highly anticipated local interest rate decision. Bulls may gain momentum mid-week as the Bangko Sentral ng Pilipinas (BSP) is expected to cut the benchmark rate by 25bps to 6.0%, following last month\u2019s weaker-than-expected inflation print of 1.9% (estimate: 2.3%). However, rising oil prices and the continued depreciation of the Peso could limit upward movement.<\/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. Doubledragon Properties Corp. (DD)<\/h3>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Recommendation<\/strong><\/td><td>Buy on breakout<\/td><\/tr><tr><td><strong>1-Year Target Price<\/strong><\/td><td>No consensus Target Price<\/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>DD is showing signs of a bullish reversal after breaking above its downward trend line and reaching a bottom at PHP8.70. The price is currently hovering around PHP10.20, just below the 100-day MA (PHP10.71), which serves as a key resistance. With the MACD showing increasing bullish momentum and the RSI at 59.87, the stock has room to climb before hitting overbought territory. A break above PHP10.71 could lead to further gains, while failure to clear this resistance may prompt a retest of support levels around PHP9.42 or lower.<\/p>\n\n\n\n<p>Accumulating DD once it breaks above PHP10.70 is advisable. Take profits at PHP12.30 and set stop loss limits below PHP9.84.<\/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. Robinsons Retail Holdings, Inc. (RRHI)<\/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 47.00<\/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>RRHI is currently trading within an upward channel, above key moving averages (20-<br>day, 50-day, 100-day, and 200-day), but nearing immediate resistance at PHP42.00. While the stock shows bullish momentum, the RSI at 62.99 suggests it is approaching overbought conditions, indicating a possible short-term consolidation. We recommend buying at current levels (~PHP40.00), as the overall technical outlook remains positive, with higher lows and increasing volume confirming the trend.<\/p>\n\n\n\n<p>Accumulating at current levels (~PHP40.00) is advisable. Take profits at PHP46.00 and set stop loss limit at PHP36.80.<\/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.\u00a0Puregold Price Club, Inc. (PGOLD)<\/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 36.00<\/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>PGOLD is currently trading within an upward channel, above key moving averages<br>(20-day, 50-day, 100-day, and 200-day), but nearing immediate resistance at PHP34.39. While the stock shows bullish momentum, the RSI at 71.95 signals overbought conditions, indicating a possible short-term consolidation. We recommend buying on pullbacks (~PHP32.00), as the overall technical outlook remains positive, with higher lows and increasing volume confirming the trend.<\/p>\n\n\n\n<p>Buying on pullbacks near the breakout point of PHP32.00 is advisable. Take profits at PHP36.8 and set stop loss limit at PHP29.44.<\/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-329909","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\/329909","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=329909"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329909\/revisions"}],"predecessor-version":[{"id":329911,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329909\/revisions\/329911"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}