METRO Pacific Investments Corp. (MPIC, $:MPI) has had its low points in the Philippine Stock Exchange in the middle of May and later, in the second half of June, 2021.
Many investors and retail traders who bought in early June and failed to push the sell button found themselves "naipit" when $:MPI hovered from the cheap support price of 3.50 to 3.64 last July.
That was the time that nobody wanted a position in $:MPI.
But starting when $:MPI hit the second support at 3.62, the stock continued to inch its way up, from Sept. 29 up to yesterday, when it reached a high of 4.18 without any shadow or wick on top.
Both the Ichimoko cloud and the MACD indicators are emitting strong buy signals.
The resistance at 3.84 was easily broken, along with support No.1 that became a resistance at 3.96.
Note that $:MPI tried but failed 3 times in the past (April, May and June) to go past the resistance at 4.16.
I bet this 4th time, $:MPI will succeed.
That is why I have started to buy this stock again.
Metro Pacific booked P11.04 billion in revenue in the 2nd quarter, with net income of P4.36 B.
A huge contributor to revenues of the Metro Pacific Group is Metro Pacific Tollways Corp. (MPTC) which will be the beneficiary of the continuing opening of the economy, with people ramping up mobility and many would be traveling by land.
The MPTC tollways are open and ready to serve them.
MPTC is the operator of three long-term concessions in the Philippines, namely the North Luzon Expressway (NLEX), Subic Clark Tarlac Expressway (SCTEX), and the Manila-Cavite Expressway (CAVITEX). It also operates Cavite Laguna Expressway (CALAEX), the Cebu Cordova Link Expressway (CCLEX), and the NLEX Connector.
Also, the Manny Pangilinan-led tollway operator and developer has consolidated its non-toll related businesses into a single unit that will provide mobility solutions harnessing digital technology on its toll roads.
Recently, they launched in a virtual even the MPT Mobility, a new unit that will house all of the company's non-toll related enterprises.
“We are very excited about the launch. Digitalization is inevitable. We needed to be at the forefront of leveraging its adoption and transcend our core tollways business using the latest digital technology,” said MPT Mobility president and general manager Raul Ignacio.
The MPT Mobility will address a variety of customer needs and provides the public with operation and life conveniences via a digital interface.
MPT Mobility is a conglomeration of seven new business units offering digitally driven solutions.
The seven companies under the new MPTC venture are the following subsidiary companies: Dibz, Spot On Advertising, NLEX Drive & Dine, Southbend Express Services Inc., Easytrip Services Corp., Business Development, and One Hub.
$:MPI opened at 4.06 and closed at 4.18 on Thursday, Oct. 21.For the curious, let me say that it has volume.
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