Today, at 3.29 PM, PSE Edge disclosed that Mr. Navasero disposed again 5M common shares @ 2.44 per share. I see it as a subtle move. Why disclosed it one minute before closing of the PSE? Why was it not disclosed early this morning before the opening of the stock market?
$ALT has been going down for 6 consecutive trading sessions and closed today @ 2.20. The 2.44 disposal price could be perceived either way, that $ALT now is undervalued @ 2.20 or its actual price in the eyes of Mr. Navasero is worth less than 2.44. The first interpretation could be a bullish sign to encourage holders and buyers. The second perspective is bearish and would result to more selling causing the price of $ALT to go down even deeper. This will serve as a warning for both investors and traders who are too bullish about this stock as a result of reading press releases and hearing Mr. Navasero's big statements.
Let's review the historical transactions of $ALT's common shares:
12 August 2016 - Mr. Navasero bought 208, 624, 961 shares of $ALT @ 1.74.
16 November 2016 - Mr. Navasero disposed 50M common shares of $ALT @ 2.88. As a result of this transaction, Mr. Navasero profited Php 57M in just 3 months. Very profitable transaction indeed!
16 December 2016 - Mr. Navasero disposed again another 5M common shares of $ALT @ 2.44 per share. He bagged another Php 3.5M after this transaction.
As traders, how should we view the history of $ALT's common shares?
First, I don't know for what purpose, but obviously Mr. Navasero's disposal of 55M common shares of $ALT shows that he is in great need of cash.
Second, in the eyes of Mr. Navasero, $ALT's price per share is less than 2.44 but higher than 1.74. Checking $ALT's chart from a monthly time frame, it has two historical supports, 1.80 and 1.52. The trendline support is @ 1.26. Considering Mr. Navasero's low assessment of $ALT, it's but appropriate to consider these support prices in entering this stock.
Third, I am now having a second thought about all the information that I researched about this company. There is a disconnection between the fundamentals of this company and its market price. I don't want to think that those big words thrown out there are nothing but have the intention to deceive the investing public.
Finally on a positive note, at least the number of shares being disposed is getting smaller. With remaining approximately 153M shares, both direct and indirect ownership, we don't know how many more Mr. Navasero will dispose on 16 January 2017.
$ALT has been going down for 6 consecutive trading sessions and closed today @ 2.20. The 2.44 disposal price could be perceived either way, that $ALT now is undervalued @ 2.20 or its actual price in the eyes of Mr. Navasero is worth less than 2.44. The first interpretation could be a bullish sign to encourage holders and buyers. The second perspective is bearish and would result to more selling causing the price of $ALT to go down even deeper. This will serve as a warning for both investors and traders who are too bullish about this stock as a result of reading press releases and hearing Mr. Navasero's big statements.
Let's review the historical transactions of $ALT's common shares:
12 August 2016 - Mr. Navasero bought 208, 624, 961 shares of $ALT @ 1.74.
16 November 2016 - Mr. Navasero disposed 50M common shares of $ALT @ 2.88. As a result of this transaction, Mr. Navasero profited Php 57M in just 3 months. Very profitable transaction indeed!
16 December 2016 - Mr. Navasero disposed again another 5M common shares of $ALT @ 2.44 per share. He bagged another Php 3.5M after this transaction.
As traders, how should we view the history of $ALT's common shares?
First, I don't know for what purpose, but obviously Mr. Navasero's disposal of 55M common shares of $ALT shows that he is in great need of cash.
Second, in the eyes of Mr. Navasero, $ALT's price per share is less than 2.44 but higher than 1.74. Checking $ALT's chart from a monthly time frame, it has two historical supports, 1.80 and 1.52. The trendline support is @ 1.26. Considering Mr. Navasero's low assessment of $ALT, it's but appropriate to consider these support prices in entering this stock.
Third, I am now having a second thought about all the information that I researched about this company. There is a disconnection between the fundamentals of this company and its market price. I don't want to think that those big words thrown out there are nothing but have the intention to deceive the investing public.
Finally on a positive note, at least the number of shares being disposed is getting smaller. With remaining approximately 153M shares, both direct and indirect ownership, we don't know how many more Mr. Navasero will dispose on 16 January 2017.
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