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Sinophil Corp. (SINO) Takes Cue From Belle and Leisure & Resorts World

Jan. 08, 2011 9:06 PM ETSGLY, BEL-OLD
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lytman02's Blog
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If any one of you missed the Belle Corporation (BEL) and Leisure and Resorts World Corporation (LR) trains like me, don’t fret, Sinophil Corporation or SINO in the Philippine Stock Exchange could take you to another bullish ride with a huge potential upside. Back in August of 2010, BEL was just trading at around PHP 2.00 per share. It closed at PHP 5.14 last Friday. LR was also just exchanging at around PHP 2.00 during the same month last year before it erupted. Last Friday, it ended on a high tone and closed at PHP 5.64. BEL, LR, and SINO, by the way, are affiliate companies, which are engaged in a hotel and casino business.

Belle Corp. is a leading Philippine developer of high-end residential and leisure properties. It is the name of behind the Tagaytay Highlands and Midlands. Leisure and Resorts World Corp., on the other hand, operates a professional bingo and interactive games licensing business. The two firms joined hands to build a operate hotel and casino worth PHP 9 billion along Roxas Boulevard in Manila. The Belle Grand Manila Bay will have its soft opening by fourth quarter of this year.

So what about SINO? Well, SINO, an investment holding company, is also involved in gaming, property development, pay-per-view entertainment and information systems. It also has stakes in both LR and BEL.

From a technical point of view, SINO has just broken out from a cup and handle pattern when it breached the neckline or the “cusp of the cup” which is around PHP 0.34 last Friday. SINO closed at PHP 0.365 last Friday, up by 14.06%. If SINO is able to keep its head above the neckline on Monday, then a journey towards its upside target (measured by projecting the height of the pattern from the point of breakout) around PHP 0.60 is quite possible. A minor resistance, however, could be met at PHP 0.50. Still, both targets represent a 40% and 60% upside in the near term. Not bad.

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Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in SINO over the next 72 hours.

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