After seeing strong sales of its residential condominiums in Iloilo, Megaworld Corporation (MEG) decided to add another wing to Saint Dominique. It would mark the 7th residential tower in the township project.
This new ten storey project will offer an additional 152 prime residential units. The goal is to provide studio-type units (35 square meters max), one-bedroom units (50 square meters max), two bedrooms (79 square meters max), and loft units (38.50 square meters max).
Additionally, some of the studio, one-bedroom, and two bedroom units will have balconies overlooking the town’s breathtaking landscape.
Strike While the Iron is Hot
Total residential units in the township are now at 1,819 with an aggregate take-up of roughly 90 percent to date.
The Saint Dominique project will capture the Parisian lifestyle with the building’s classic architectural design.
Moreover, it will also share amenities with the North Wing such as a swimming pool with kiddie pool, pool lounge, a fitness center, a jacuzzi, game room, event halls, daycare center, indoor spa, and children’s playground.
Megaworld Inc. booked revenues of PHP 26.77 billion for the first half of the year, which higher by 10.30 percent than last year’s PHP 24.27 billion.
The sales came from the company’s subsidiaries namely: Global-Estate Resorts, Inc., Empire East Land Holdings, Inc., and Suntrust Properties, Inc.
In addition, the company’s net income attributable to parent totalled to PHP 7.25 billion. This figure is a 12.53 percent growth versus the recorded PHP 6.44 billion in the same period in 2017.
A Bullish Bias
MEG retraced today and hit immediate support. The 200 SMA is currently acting as support.
The 15 EMA and 20 SMA is also estimated support and may do a bullish crossover with the 200 SMA.
Nonetheless, the volume profile supports a bullish bias. MACD is also bullish. RSI is moving sideways and is at neutral levels.
Support is estimated at 4.86 while resistance is expected at 5.06.
As of August 20, 2018, at 03:30 PM, the volume of MEG is 25.85% of the previous trading day.
Remember the correlation between price and volume.
- bullish price + high volume = high sustainability (price)
- bullish price + low volume = low sustainability (price)
- bearish price + high volume = high sustainability (price)
- bearish price + low volume = low sustainability (price)
MEG has a LOW-RISK level due to its risk percentage of 28.57%.
Foreign Fund Flow
MEG registered a Net Foreign Selling worth P14,319,140.00 as of August 20, 2018.
On a 30-day trading period, MEG is on a Net Foreign Buying worth PHP304,150,058.00.
Trading participants of MEG with a 100% Buying and Selling Activity as of Aug-20-2018 at 03:30 PM:
2 out of 21 participants or 9.52% of all participants registered a 100% BUYING activity
7 out of 21 participants or 33.33% of all participants registered a 100% SELLING activity
Top 10 Players’ Buying Average: 4.8894
Top 10 Players’ Selling Average: 4.8947
The psychological average price of the top 10 players as of Aug-20-2018 is from 4.8894 to 4.8947.
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