P12-B GT CAPITAL HOLDINGS (GTCAP) Preferred Shares Oversubscribed: Technical Analysis Inside
Jaycee De Guzman

Jaycee De Guzman

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Jaycee De Guzman

GT Capital Holdings’ P12B preferred share is oversubscribed by more than 5 times. The offer began last October 17 and will run until October 21. October 27 is set as the listing date.

The company aims to raise P12B by offering 12 million preferred shares at a par value of P1,000 per share.  Dividend rate is set at 4.6299 percent for the 7-year preferred share and 5.0949 percent for the 10-year preferred share. Series A, with a maturity period of 7 years, can be redeemed starting on the 6th year, while Series B is redeemable starting on the 8th year.

These shares are cumulative, non-voting, non convertible, and peso-denominated.

Proceeds from the issue will be used to refinance previous acquisitions paid through bridge financing in the fourth quarter of 2016 and to fund strategic acquisitions.

Now that you know GTCAP’s P12B preferred shares, I’d like to give you an update about its top 10 players’ sentiment for October month-to-date, foreign investors’ sentiment, volatility, and volume.

Daily Chart

GTCAP made a technical correction when it hit its all-time high last August 2016. It found its rebounding area at the support near 1,331. Resistance is near 1,482.

On a long-term time horizon, I’d say that GTCAP has re-entered the bullish territory 2 days ago when it closed above its 200-day SMA. GTCAP should not go below 1,414 to maintain that bullish stance for long-term investors.

On a short-term perspective, GTCAP must breach the resistance near 1,482 so that the 10-day SMA could snatch a bullish convergence with the 20-day SMA (for a possible golden cross). Short-term traders, GTCAP is not yet in a confirmed bullish channel as far as a short-term time-frame is concerned.

While MACD is moving above the signal line, it’s still below the zero line. RSI brings GTCAP in a neutral state (neither overbought nor oversold).

GTCAP - GT CAPITAL HOLDINGS - Daily Chart - October 20, 2016

Top 10 Players’ Sentiment

Participants with a 100% Buying and Selling Activity from Oct-03-2016 to Oct-20-2016 at 03:30PM:

  • 18 out of 64 participants or 28.13% of all participants registered a 100% BUYING activity
  • 4 out of 64 participants or 6.25% of all participants registered a 100% SELLING activity
  • Top 10 Players’ Buying Average: 1392.1628
  • Top 10 Players’ Selling Average: 1388.9703

GTCAP - GT CAPITAL HOLDINGS - Top 10 Players Sentiment - October 20, 2016

Foreign Fund Flow

On a 30-day trading period, GTCAP is on a Net Foreign Selling worth PHP1,061,832,880.00.

GTCAP - GT CAPITAL HOLDINGS - Foreign Fund Flow - October 20, 2016

Volatility

I still consider GTCAP as a low-risk stock based on its current volatility score (historical or statistical volatility).

GTCAP - GT CAPITAL HOLDINGS - Volatility - October 20, 2016

Volume

GTCAP’s volume must increase for its price’s ascent to become sustainable. Volume has been below GTCAP’s 30-day volume average for the past 5 trading days.

GTCAP - GT CAPITAL HOLDINGS - Volume - October 20, 2016

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