Stock in Focus: Manila Electric Company (MER)

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Nearly 7 months have past, yet Manila Electric Company or Meralco (stock symbol: MER) has been unable to reach the 300 level.

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Philippine Stock Exchange, Manila Electric Company_MER Daily chart, October 10, 2014

MER Daily chart, October 10, 2014

Instead, price headed straight down to the major support post at 250. This is a very serious cause for concern for buyers since the 240-250 zone is a major support area. If this area gets broken, MER would revisit prices unseen in 2 years.

On the upside, 300 is a major level that buyers must breach to keep buyers at bay.

The Stochastic indicator has recently bounced from the upper-10s.

TP’s Advice: Be careful of MER. Watch 250 closely.

NOTE: My last post on Manila Electric Company was nearly 7 months ago. If you want a monthly analysis of this stock (and all PSE Index stocks plus over 10-30 bonus analysis articles) or another specific stock, you should consider getting a RISK-FREE Platinum Premium Subscription. If you join us, you get to learn and earn while supporting school kids and our donation drives!

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