At yesterday’s low price of 2.69, it's only 9 centavos away from the all-time low 10 years ago on 31-Dec-2009.
As mentioned earlier at this post Metro Pacific Investments Corporation, that water and sewerage services contributed 27.19% of its revenue, it’s still a huge chunk for MPI’s income.
Now, that the concession agreement extension already canceled and will last only until the year 2022 and depending on the outcome of the new agreed concession agreement, this, in my opinion, downgraded the intrinsic value for MPI in the long-run.
Today, 711.864 million changes hands and 196 million net foreign selling.
Was the recent low at 2.69 bottomed?
Judging from my chart, the ADX (yellow line) indicates that the selling pressure is in strong uptrend strength at 57.78%! This means that the selling may continue until the ADX reverses its course.
If these political woes will not be ironed out soonest, MPI may continue to agonize a depressed price even beyond its lowest support at 1.82 on 28-Oct-2008!
DISCLAIMER: I'm not a Certified Financial Planner. Published herein is my personal opinion and should not be construed as a recommendation, an offer, or solicitation for the subscription, purchase or sale of these securities.
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