With change of administration coming, are we going to finally see mining stocks sky rocket? Fundamentally, the PNOY administration has never been supportive of the mining industry. PNOY, in his 6-year term, pushed aside signing the mining sharing agreement. Now with Duterte coming in, will mining firms get support?
Philex Mining, the industry leader here in the PSE seems to have started its bottoming out process. Last February, we saw the break of the downtrend and has since then been breaking recent highs. This is telling us that the downtrend is either taking a breather to continue or to reverse. There’s still no clear indication as to where this will go. But for some types of traders, particularly investors, the accumulation phase may have just begun.