After being battered for almost four months, MWIDE finally shows some signs of life. The stock hit highs of 19.85 just this May 2017 and was brought down to its knees by a 22% decline. Then in just two days, the stock bounces well and is up 13.6% in a short span of time! That’s why I love the market, everything we need to know can be found and read in the charts! No need for hype and definitely no need to speculate! If you have not started to invest in the market yet, I hope you do! I really believe that every Filipino deserves to be financially free!
So now, where is MWIDE headed and where could it possibly go? What triggered this upward movement in MWIDE and will the stock now turn bullish? If you are interested then keep on reading!
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Stock Smarts Davao — October 20 – October 22, 2017
Stock Smarts Malaysia — November 4 – November 5, 2017
Stock Smarts Sydney, Australia — November 11 – November 12, 2017
Stock Smarts Qatar — November 16 – November 19, 2017
Stock Smarts Singapore — November 25 – November 26, 2017
Stock Smarts Manila — December 2, 3, 9, 10 & 16 , 2017
Stock Smarts Taiwan — December 21 – December 22, 2017
Stock Smarts Cagayan De Oro — January 13 – January 14, 2018
Stock Smarts London, United Kingdom — January 26 – 28, 2018
What could have triggered this bounce? The latest news that surrounds the stock is that Century Properties (CPG) tapped MWIDE to take care of its affordable housing project in Cavite. This is for the 2,830 housing units in Phirst Park Homes in Tanza, Cavite where MWIDE will apply the precast concrete panel building systems. Allow me to update you in the next few days or weeks on how this affects MWIDE fundamentally speaking.
1. The stock hit oversold levels and the news created a positive surge of buying for investors.
2. The stock bounced from the support at 15.6.
3. MWIDE is currently at the resistance now at 17.6. If it fails to breakout from that quick traders that bought at the support should now lock in their gains. This is a good 13.5% trade for two days.
4. A failure to breakout of the 17.6 resistance will bring the stock down back to 15.6.
5. Should MWIDE breakout of 17.6, the next target price is 18.8 and it could now challenge and go as high as 20.
6. All bets are off if it does not breakout of 17.6
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