{"id":330850,"date":"2024-12-11T11:02:16","date_gmt":"2024-12-11T03:02:16","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330850"},"modified":"2024-12-12T23:04:34","modified_gmt":"2024-12-12T15:04:34","slug":"stock-picks-for-the-week-dec-9-13-2024-by-first-metro-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-picks-for-the-week-dec-9-13-2024-by-first-metro-securities\/","title":{"rendered":"Stock Picks for the week (Dec 9-13, 2024) by First Metro Securities"},"content":{"rendered":"\n

Market Recap: Stock market last week<\/h2>\n\n\n\n

Last week, the PSEI recovered by 1.74% week-on-week, closing at 6,724.14 (up 115.29 points). The local bourse started the week on a high note amid persistent value buying after it closed at key support level of 6,600 in the prior week. However, gains were short-lived as investors stayed on the sidelines mid-week, awaiting for PH November 2024 inflation print, which came in line with consensus estimates at 2.5%. On Friday, the index closed the week on a high note following the peso\u2019s appreciation to the PHP57 level.<\/p>\n\n\n\n

The U.S. labour market added 227k jobs in Nov 2024 \u2013 higher\u2013than consensus estimate of 200k additions \u2013 with most of the job gains coming from healthcare (+54k), leisure and hospitality (+53k), and government (+33k). The unemployment rate came in within expectations at 4.2% (est.: 4.2%; prev.: 4.1%). Labour force participation stood at 62.5% (Nov 2024: 62.6%). Wage growth came in at 4.0% year-on-year (Oct 2024: 4.0%).<\/p>\n\n\n\n

<\/div>\n\n\n\n

PSE outlook this week<\/h2>\n\n\n\n

This week, we expect the the PSEI to trade sideways with a slight upward bias due to persistent value buying, continued appreciation of the peso, and lower oil prices with Brent and West Texas Intermediate improving to (WTI) to USD70\/barrel and USD67\/barrel, respectively. On the foreign front, investors will digest US inflation and PPI data for Nov 2024 with consensus expecting slight upticks. However, sentiment may be dragged by the ongoing geopolitical unrest in the Middle East as Syrian rebels successfully oust President Bashar al-Assad.<\/p>\n\n\n\n

<\/div>\n\n\n\n

Stock Picks this week<\/h2>\n\n\n\n

1. Robinsons Retail Holdings, Inc. (RRHI)<\/h3>\n\n\n\n
Recommendation<\/strong><\/td>Buy on breakout<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 47.00<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

RRHI is currently trading below its 50-day, 100-day, and 200-day moving averages
(MA), and within the 20-day MA. From a momentum perspective, the RSI suggests that the stock is moving away from oversold territory. Despite the MACD trending downwards, the stock\u2019s price consolidating at its key support level around the PHP35 range is showing potential signs of reversal. A breakout above the PHP41.23 resistance level, supported by increased volume, could confirm an uptrend turnaround.<\/p>\n\n\n\n

We recommend accumulating RRHI once it breaks above PHP41.23 with strong volume. Take profits at PHP47.00 and set stop loss limits below PHP38.00.<\/p>\n\n\n\n

<\/div>\n\n\n\n

2. Aboitiz Power Corporation (AP)<\/h3>\n\n\n\n
Recommendation<\/strong><\/td>Buy on breakout<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 45.33<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

AP\u2019s share price has been consolidating below the trend line with multiple retests for a possible breakout soon. While the stock is trading slightly below its 20-day and 50-day moving averages (MA), it remains above its 100-day and 200-day MAs, showing strength in the long-term. On momentum indicators, the MACD suggests a possible upward momentum in the near future, while the RSI is slightly below neutral levels. Therefore, we suggest buying AP once it breaks out of its resistance level supported by strong trading volume for a better entry signal.<\/p>\n\n\n\n

Accumulating AP once it breaks above the trend line around the PHP37.30 level. Take profits at PHP42.90 and set stop-loss limits around PHP34.30.<\/p>\n\n\n\n

<\/div>\n\n\n\n

3.\u00a0Semirara Mining and Power Corporation (SCC)<\/h3>\n\n\n\n
Recommendation<\/strong><\/td>Buy on breakout<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

SCC shows potential for further upside, supported by bullish momentum indicators. The stock is currently trading above all key moving averages (20-day, 50-day, 100-day, and 200-day), reflecting buying interest. It experienced a gap down in early November, with the price dropping from approximately PHP34.00 to PHP32.00. A successful fill of this gap, supported by strong volume, could confirm a continuation of the bullish trend.<\/p>\n\n\n\n

We recommend accumulating near the lower end of the gap at around PHP33.60. Take profits at PHP38.64 and set a stop loss below PHP30.91.<\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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-330850","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\/330850","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=330850"}],"version-history":[{"count":3,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330850\/revisions"}],"predecessor-version":[{"id":330855,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330850\/revisions\/330855"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=330850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=330850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=330850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}