Cemex Holdings Philippines, Inc. (CHP) made an announcement on October 1, 2018, about the suspension of their quarry operations.
The Department of Environment and Natural Resources informed the company that the Mines and Geosciences Bureau has already lifted the suspension of quarry operations covering Sitio Tagbac, Brgy. San Jose, Antipolo City. It is one of the primary sources of raw materials of SOLID Cement Corporation.
SOLID Cement Corporation is one of CHP’s principal operating subsidiaries.
Cement Plants to Continue Operations
On September 28, 2018, CHP issued a statement clarifying the impact of the suspension of the quarry operations of the principal raw materials suppliers to CHP’s principal operating subsidiaries in Naga City, Cebu, and Antipolo, Rizal.
CHP informed that APO Cement Corporation and SOLID Cement Corporation continue to operate its cement plants and are implementing various efforts to make its products available to its customers. CHP is closely monitoring the situation and is working with the affected communities.
For the first six months of the year, CHP had revenues of PHP 11.90 billion. This figure is higher than the recorded PHP 11.00 billion in the same period in 2017.
Majority of the revenues came from cement sales amounting to PHP 11.87 billion. The other businesses comprised the rest of the sales.
Meanwhile, domestic gray cement volume increased by 12 percent while average selling price declined by 3 percent versus last year. For the second quarter alone, domestic sales volume increased by 8 percent while average selling price for cement was flat.
Furthermore, the company had a net loss of PHP 534.80 million for the first six months ended June 30, 2018. This amount is in comparison with the gain of PHP 486.10 million in the same period in 2017.
On the other hand, CHP corrected today after a strong rally yesterday. The moving averages are bearishly aligned with the 15 EMA and 20 SMA as immediate resistance.
Moreover, the volume was also huge on the red candle today. MACD is bearish. RSI is also bearish and is nearing oversold levels.
Estimated support is at 2.43 followed by 2.29. Expected resistance is at 2.70 followed by 2.96.
Volume
As of October 2, 2018, at 03:30 PM, the volume of CHP is 111.18% of the previous trading day. This stock’s latest volume is already above 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
Risk Level
CHP has a HIGH-RISK level due to its risk percentage of 86.45%.
Foreign Fund Flow
CHP registered a Net Foreign Selling worth P9,223,240.00 as of October 02, 2018. On a 30-day trading period, CHP is on a Net Foreign Selling worth PHP45,822,761.00.
Top 10 Players’ Sentiment
Trading participants of CHP with a 100% Buying and Selling Activity as of Oct-02-2018 at 03:30 PM:
11 out of 33 participants or 33.33% of all participants registered a 100% BUYING activity
6 out of 33 participants or 18.18% of all participants registered a 100% SELLING activity
Top 10 Players’ Buying Average: 2.5564
Top 10 Players’ Selling Average: 2.5587
The psychological average price of the top 10 players as of Oct-02-2018 at 03:30 PM is from 2.5564 to 2.5587.
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