{"id":19244,"date":"2011-02-09T19:58:05","date_gmt":"2011-02-10T00:58:05","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=19244"},"modified":"2011-02-09T19:58:05","modified_gmt":"2011-02-10T00:58:05","slug":"another-breakout-year-for-san-miguel-corporation-smc","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/02\/09\/another-breakout-year-for-san-miguel-corporation-smc\/","title":{"rendered":"Another Breakout Year For San Miguel Corporation (SMC)?"},"content":{"rendered":"<p style=\"text-align: center;\"><a href=\"http:\/\/www.laidtrades.com\/wp-content\/uploads\/2011\/02\/San-Miguel-Corporation-SMC-February-10-2011.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-7902 aligncenter\" title=\"San Miguel Corporation SMC February 10, 2011\" src=\"http:\/\/www.laidtrades.com\/wp-content\/uploads\/2011\/02\/San-Miguel-Corporation-SMC-February-10-2011-300x170.png\" alt=\"San Miguel Corporation, SMC philippine stocks, Ramon Ang, Ron Acoba, right-angled and descending broadening triangle, daily stock picks, stock market trading\" width=\"300\" height=\"170\" \/><\/a><\/p>\n<p style=\"text-align: left;\">Ramon Ang-led San Miguel Corporation of SMC  in the Philippine Stock Exchange was under the spotlight during the  last quarter of 2010. From around PHP 74.00  in October 2010, SMC had risen in a relatively fast pace to end the year  at PHP 163.80. Now, that&rsquo;s a gain of almost 120% in less than two  months! Anyway, opened 2011 on a positive note when it reached a high of  PHP 189.50 during the first 2 days of trading. However, the once  &lsquo;on-fire&rsquo; stock has apparently lost some of its steam. After reaching  the mentioned high until the present, SMC has just moved sideways while  marking a low of PHP 150.00 back in January 24.<\/p>\n<p style=\"text-align: left;\">As you can see from its chart above, SMC  has consolidated within a right-angled and descending broadening  triangle formation. Notice that when the stock weakened, the red moving  average came to the rescue to pick it back up. In the coming days or so,  SMC could swing higher if it is able to move past the resistance of the  triangle at around PHP 189.00. Check also that the MACD has just made a  bullish crossover, indicating a likely move higher soon. In any case, a  failure to move past the triangle&rsquo;s resistance could send it a drift  once again or worse back to PHP 150.00.<\/p>\n<p style=\"text-align: left;\">On the fundamental side, SMC President  Ramon Ang said the SMC could double its total revenues this year to PHP  530 billion from PHP 230 billion last year by consolidating its four  power-generation plants and Petron Corporation (PCOR). He even went a  step further when he said that the company is going to aim for a revenue  level of PHP 1 trillion by 2016. Consolidating its other businesses and  continually strengthening its infrastructure and power portfolio could  be its ticket towards its goal. Moreover, the company will be spending  about $4 billion in new investments in energy, telecommunications, and  transportation. In fact, the company is already seeking to enter into a  venture with Citra Lamotoro Gung Persado (Citra) of Indonesia and Star  Tollway Corporation so that they can make a stronger group that can  participate in the government&rsquo;s public-private partnership (PPP)  program.<\/p>\n<p style=\"text-align: left;\">More on <a href=\"http:\/\/www.laidtrades.com\/\">LaidTrades.com<\/a> &#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ramon Ang-led San Miguel Corporation of SMC in the Philippine Stock Exchange was under the spotlight during the last quarter of 2010. From around PHP 74.00 in October 2010, SMC had risen in a relatively fast pace to end the year at PHP 163.80. Now, that&rsquo;s a gain of almost 120% in less than two &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/02\/09\/another-breakout-year-for-san-miguel-corporation-smc\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Another Breakout Year For San Miguel Corporation (SMC)?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-19244","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=19244"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19244\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=19244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=19244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=19244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}