in the news: PX/PHILEX MINING CORPORATION

PX/Philex Mining Corporation (17 jul 2014)

  

px chart as of 17 jul 2014 

(click on the chart to enlarge)

remarks: 

The Ninja Stock Monitor (aba, ceb, px, rlc, vll: 03 oct 2012)

selected technical indicators of PSE-listed stocks 

these are my trading notes for my reference only 
by no means are these to be taken by the reader as recommendations to buy or sell

legend:

c: closing price

s: support

r: resistance

vol: volume (+ above 5dma; - below 5dma)

macd: moving average convergence divergence

rsi: relative strength index

sts: stochastics

rem: remarks

unch: unchanged 

(+): higher

(-): lower

03 oct 2012 closing prices 

aba (abacus consolidated resources)

c: .70 (unchanged)
s: .70

r:  .71 (intraday high)
vol: (-)
macd: < 0
macd histogram: > 0
macd histogram direction:(+)
rsi: 39.95(unchanged)
sts: 20(+ )

rem: continue waiting and monitoring

ceb (cebu air inc)

c: 56.45 (+)
s: 55.45

r:  57
vol: (+)
macd: < 0
macd histogram: > 0
macd histogram direction:(+)
rsi: 41.76(+)
sts: 42.58(+ )

rem: macd buy signal given yesterday ... adjust stops

px (philex mining)

c: 14.06(-)

s: 13.80

r:  14.52
vol: (+)
macd: < 0
macd histogram: > 0
macd histogram direction:(-)
rsi: 24.66(-)
sts: 16.11(+ )

rem: price action speaks louder than words indeed ... stay away tho continue monitoring ... 

rlc (robinsons land)

c: 19.50 (+)
s: 19.26

r:  19.56; 19.68
vol: (-)
macd: > 0
macd histogram: > 0
macd histogram direction:(+)
rsi: 68.79(+)
sts: 89.81(+ )

rem: just adjust stops

vll (vista land and landscapes)

c: 4.75 (unchanged)
s: 4.73

r:  4.76
vol: (-)
macd: > 0
macd histogram: < 0
macd histogram direction:(-)
rsi: 59.53(unchanged)
sts: 51.14(- )

rem: indicators still point south ... just continue waiting and monitoring ... 

so .. is px finally a buy? px ... 2 weeks after (px, 22 september 2012)

i posted this question two weeks ago when px closed at its 52-week low (17.20) ... and i said:

so ... is px already a buy?

i suggest to the reader to do his own analysis as an exercise ... will be good for u ... then lets compare notes

as for me ... ill wait a while first ... px may still go further south ... and i guess ill wait for the indicators to point up first before thinking of buying any share

is px already a buy? (px, 09 sept 2012)

http://1kagemusha.blogspot.com/2012/09/is-px-already-buy-09-sept-2012.html

let me review now where px is at the moment and see if anything has changed to likewise change my views:

fundamentally .. we know that the mine will be closed until end of the year at least ... so nothing new there ...

technically:

The Ninja Stock Monitor (px, 21 sept 2012)

selected technical indicators of PSE-listed stocks

these are my trading notes for my reference only

by no means are these to be taken by the reader as recommendations to buy or sell

legend:

c: closing price

s: support

r: resistance

vol: volume (+ above 5dma; - below 5dma)

macd: moving average convergence divergence

rsi: relative strength index

sts: stochastics

rem: remarks

unch: unchanged 

(+): higher

(-): lower

21 sept 2012 closing prices 

px (philex mining)

c: 14.82 (-)

s: 14.82 (intraday low); 14.80; 13.74
r:  15.82 (intraday high); 16.12
vol: (+)
macd: < 0
macd histogram: < 0
macd histogram direction:(-)
rsi: 22.6(-)
sts: 14.92(-)

rem: it seems nothing has changed except that px is 2.38 pesos lower than 2 weeks ago (-13.84%) ... macd,rsi and sts all still look bad ...  in this regard, im still a waiter:

  ill wait for the indicators to point up first before thinking of buying any share

btw.: px on sept 7-11 proved that the 52-week high on a friday rule also works the other way.

Secrets of the 52 Week High Friday Rule

is px already a buy? (px, 09 sept 2012)

due to the circumstances that the padcal mine finds itself in, px has been declining in price for the past weeks until last friday's close at 17.20 .. almost exactly the support during the first week of may 2011. is it already the bottom? is it already time to start buying bak our px shares?

let us see from a fundamental and technical point as tentatively done by urs truly ...

- px 1st half 2012 eps is 41 cents 

- assuming no production for the rest of 2012 as reported in sunday's news, px still has 1.77 billion pesos in inventories ... or roughly 30 cents in eps

- assume no costs and taxes ... px eps for 2012 is 71 cents ... 

- at last friday's closing of 17.20 ... px is trading at around 24.23 x earnings...

so is px currently a buy?

let us see again for a moment and compare it with some listed mining companies ...

atlas
1st half 2012 eps = 83 cents
annualised = 1.66 pesos
at 17.08 ... p/e 2012 = 10.29 x

marc ventures
1st half 2012 eps = 14.7 cents
annualised = 29.4 cents
at 2.30 ... p/e 2012 = 7.8 x

nickel asia
1st half 2012 eps = 95 cents
annualised = 1.90 pesos
at 17.20 ... p/e = 9.05 x

quite interesting ...
at a comparable p/e of 10x earnings ... px should be trading at around 7.10 pesos ...

technically ...
- px is already way way below its 50 and 200 dma and it just brokedown from its 20 dma
- macd is below 0 yet the macd histogram is still positive but pointing south and may possibly give a sell signal shortly
- rsi is already at oversold territory but sts is still a little above 20
- support is at 17.20 then 17.00

so ... is px already a buy?

i suggest to the reader to do his own analysis as an exercise ... will be good for u ... then lets compare notes

as for me ... ill wait a while first ... px may still go further south ... and i guess ill wait for the indicators to point up first before thinking of buying any share

good times! great trades!


p.s. all 1st half 2012 figures are from the pse website ... did not read the respective fs anymore