Advertisements
HEADLINES

Technical Analysis: Petron Corp (PCOR)

Petron Corp (PSE: PCOR) been’s going down for months now (from a high of PHP12) due to fall in global oil prices. Though it’s latest financial report as of this writing showed that it’s actually starting to benefit from low oil prices since their cost of goods sold is much lower now. Plus it’s recently opened refinery.

Rate this:

Caveat emptor. Please read our disclosures and warnings here before you proceed.
Petron Corp (PSE: PCOR) been’s going down for months now (from a high of PHP12) due to fall in global oil prices. Though it’s latest financial report as of this writing showed that it’s actually starting to benefit from low oil prices since their cost of goods sold is much lower now. Plus it’s recently opened refinery. As a company, PCOR is an oil refiner and not an oil producer thus it actually stands to benefit on low oil prices (raw materials) as long as PH consumers are willing to buy their output.
Have we seen PCOR’s bottom or we just got lucky with our entry?
We got lucky that volume further increased after our entry. MACD and RSI also remain healthy. Gain at 25% at 7.11/sh as of 12Feb.
The fundamentalistΒ side of me is actually wondering why it’s increasing, whether the market is anticipating a bottom and eventual rise in oil prices. Have OPEC and other producers agreed to cut production?
While the technical analyst just says the trend is your friend. Juan doesn’t have to explain it, just take advantage of it.
Looking at the 5-year chart though shows that PCOR might be nearing its resistance as it has been moving within its channel (white lines). Sit tight!
Don’t forget to subscribe to our email base. Follows us on Facebook, Instagram and Twitter. Join us in Truly Rich Club.
Advertisements
About Geri (355 Articles)
Founder and main author. Husband, used-to-be-breadwinner, God-made multi-millionaire, employee, financial planner and adviser, investor, stocks trader, entrepreneur, agri-preneur, book author. Firm believer that all Pinoys deserve a richer life. Not a guru, but a forever student of the investments world, a work-in-progress.

Comment here.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: