Universal Robina Corporation (URC) 1/13/2022The stock jumped to almost 7% today as it broke its October 2022 Resistance Area at 139/share.
At the same time, the stock is also testing another resistance area at 148/share. If this price area is rejected, we will find out if the 139 lines will become the new support area for this stock.
Universal Robina Corporation (URC) 12/22/2022I placed an order for URC at 137.40 today as it continues its uptrend and will likely break its short-term resistance level at 138.80.
I placed my cut loss just below the ALMA line. I may also leave the stock if it rejected the the said resistance price I mentioned above.
Extremely Oversold Looking to BounceTEL has already lost P76bn in market cap, 22% down since the chart breakdown from 1,600, and 29% from its most recent high. RSI readings are extreme oversold. The sell-off emanates from news that it had overspent CAPEX by P42bn in the last 4 years since 2019. The company is undergoing a major management shake-up and had suspended its CFO among other officers. I believe the sell off ha overdone and the market cap loss is over and above the 42bn overspend in CAPEX. Traders may want to put in some money into a bounce in the next few days. Stop: 1200. TP: 1480 and 1600.
GMAScenario 1 : Quick scalp to Upsde of 27% from current price to close the gap.
Scenario 2 : May not close the gap at all due to bad 2023 dividend.
I have been holding this stock since 2014.
I believe this may have reached a short-term peak. 2023 Dividends will probably miss public estimates. Once gap closes further drop will continue.
If posted dividend and financials are higher than what I expect this analysis is invalid.