Here is our updated view on SPNEC.
SPNEC’s price dropped by -1.69% last week closing at P1.16. It followed the general market sentiment which was a bit bearish.
As of this moment, SPNEC’s price is consolidating. The trend is very intact though as it is still very far from its low which is at P1.00.
Just recently, the company announced that its Terra Solar project might be completed ahead of schedule. SPNEC’s president said that as of the moment, the project is already 73% completed. Here is a link for more details: https://www.bworldonline.com/corporate/2024/11/01/632115/spnecs-p200-b-terra-solar-nears-completion/
Here is what we suggest you do with SPNEC given recent developments.
If you have SPNEC, just hold and continue accumulating if the price will drop again. Buy in tranches starting at P1.15 and all the way down to P1.00.
If you still do not have SPNEC, start accumulating now. If you still do not have SPNEC, we have a slightly different buy range. Accumulate in tranches if the price is within the P1.00 to P1.20 range.
Please be reminded that the objective right now is to get as much volume and a low average cost. As much as possible, no selling yet as we are eyeing to ride the big run of the price months from now. So far, the narratives are supporting the possibility of an explosive price rally soon. Just be patient.