ABS CBN is already undervalued by the market. Traders and investors soon will realize that the company has positive results on its total revenue, gross profit, operating income, and pretax income.
We have a gap to close around 10.00 – 10.70 area and expected to overshoot until 11.20 as my final Target Price.
We have a gap to close around 10.00 – 10.70 area and expected to overshoot until 11.20 as my final Target Price.
Trade active:
with Bollinger band squeeze, we decided to execute entry..
buying below 7.50
Cut loss below 6.65 ~ -12%
Target Price at 11.20 ~ +48%
buying below 7.50
Cut loss below 6.65 ~ -12%
Target Price at 11.20 ~ +48%
Trade closed: stop reached
we hit our cut loss level at 6.65 on April 2023 but we decided to hold the position and eventually sold ALL at a loss on June 2023. as of today, ABS is at All Time Low of 4.04 closing on August 7, 2023. We are expecting this to go further down and hopefully stabilize at around the 3.69 - 3.79 area.
buying below 3.69 - 3.79
Cut loss below 3.50
Target Price at 40+ (Graham Value is at 59 as of this writing)
Trade at your own risk