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| COSCO Weekly Chart |
- Moving upward within a range.
- Indicator in oversold level.
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| COSCO Daily Chart |
- Support must hold at 8.47 level.
- Inverted hammer ended today's trading, the next candle should confirm the bullish reversal.
- Broke the support as well as the uptrend line.
- Next support zone is at 8.13-8.07
- COL Report: 2016 profits continue to underperform on weakness of smaller subsidiaries.
Maintain BUY rating. We currently have a BUY rating on COSCO with a FV estimate of 11.09/sh.The stock is currently undervalued with its specialty segment, real estate, and liquor distribution not yet priced in. Also, at its current price of Php8.52/sh, upside to our FV estimate remains significant at 30.2%. Despite the headwinds faced by the company in 2016, we continue to believe that 2017 should be a better year for COSCO with its liquor distribution performing at a more normalized base in 2Q17 while the rebound in oil prices would also relieve some pressure on Liquigaz.
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| As of 5/12/2017 |
- Broke the lower channel line.
- Wait for new support zone (gray lines) based on fib levels.
- Latest News: Cosco Net Income up 8% to PHP 1.8 billion
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