PLDT, Inc. (TEL) is the most traded stock but also one of the top losers of the day.
On September 5, 2018, PLDT was made aware of the filing of a Notice of Strike (NoS) by PLDT’s supervisory union, the Gabay ng Unyon sa Telekomunikasyon ng mga Superbisor (GUTS).
PLDT said it is yet to receive a copy of this notice and reserved commenting, pending the summon of the National Conciliation and Mediation Board.
The company is still confused as to the factual or legal basis of the filing since it does not have any dispute with GUTS. Disagreements are a requisite when filing an NoS.
DOLE Secretary Silvestre Bello previously ordered PLDT to regularize 7,000 of its workers but was reversed by the Court of Appeals. The appellate court also issued a permanent injunction against such regularization orders.
TEL also added that any claims alleging the termination of 12,000 workers are baseless, untrue, and malicious. The management denies undertaking such mass termination.
The company’s contractors affected by Bello’s orders complied with the Secretary’s cease-and-desist orders. They stopped providing workers for PLDT.
On September 10, 2018, the management reacted to the Businessworld Online news article. It confirmed that it is indeed in the process of completing definitive documentation with a group of foreign investors interested in Voyager.
TEL also expects to submit the terms of reference for approval to its Board by the end of September.
Voting Preferred Stock to Receive Cash Dividends
On September 25, 2018, PLDT also declared cash dividends to its Voting Preferred Stock. The consideration cumulatively amounted to PHP 2,437,500.0.
The company reported revenues of PHP 82.24 billion for the first six months of 2018. This amount is four percent higher than the recorded PHP 79.02 billion in the same period a year ago.
Higher revenues drove from its fixed-line business, as well as higher non-service revenues from its wireless services. However, the sales were offset by lower revenues from home and mobile broadband services.
Consolidated net income was significantly lower by 29 percent at PHP 11.81 billion, from PHP 16.56 billion a year ago. The decline was mainly due to lower net income from its wireless and other businesses.
On the other hand, mobile service revenues saw a decline both in prepaid and postpaid services. Revenues from Prepaid totaled PHP 29.76 billion, 2 percent lower from PHP 30.33 billion a year ago.
Meanwhile, postpaid revenues fell at PHP 9.72 billion from PHP 11.75 billion a year ago, a 17 percent decline.
Nonetheless, inbound roaming and others performed better at PHP 847 million from only PHP 619 million a year ago, a 37 percent rise.
TEL finally broke down definitively after failing to break above the 200 SMA. The 15 EMA, 20 SMA, and 50 SMA may also act as resistance.
Furthermore, volume was quite huge on the red candle today. MACD is bearish. RSI is also bearish and is approaching oversold levels.
Estimated support is at 1247.78 followed by 1152.70. Expected resistance is at 1317.64 followed by 1366.15.
As of September 27, 2018, at 03:30PM, the volume of TEL is 542.28% of the previous trading day. This stock’s latest volume is still below its 30-day volume average.
Remember the correlation between price and volume.
bullish price + volume above the 30-day volume average = bullish
bullish price + volume below the 30-day volume average = neutral
bearish price + volume above the 30-day volume average = bearish
bearish price + volume below the 30-day volume average = bearish
TEL has a LOW-RISK level due to its risk percentage of 37.32%.
Foreign Fund Flow
TEL registered a Net Foreign Selling worth P122,994,885.00 as of September 27, 2018. On a 30-day trading period, TEL is on a Net Foreign Selling worth PHP87,917,960.00.
Top 10 Players’ Sentiment
Trading participants of TEL with a 100% Buying and Selling Activity as of Sep-27-2018 at 03:30PM:
35 out of 60 participants or 58.33% of all participants registered a 100% BUYING activity
1 out of 60 participants or 1.67% of all participants registered a 100% SELLING activity
Top 10 Players’ Buying Average: 1298.0812
Top 10 Players’ Selling Average: 1301.9992
The psychological average price of the top 10 players as of Sep-27-2018 at 03:30PM is from 1298.0812 to 1301.9992.
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