By James A. Loyola Local investors are seen to continue panic selling this week although market analysts believe that the recent plunge in share prices may have opened up some opportunities. “For now, we continue to stay away from blue-chips and look for opportunities in second-liners,” said Eagle Equities, Inc. Head of Research Christopher Mangun. However, other analysts are more focused on large capital issues which have also borne the brunt of foreign selling in the past weeks. SB Equities is reiterating its recommendation for investors to add more PLDT shares into their portfolios noting that the firm’s revenues from Information and Communications Technology) is growing two times faster than the market. “Overall, we are positive on PLDT’s data/broadband segment…We reiterate our ‘Add’ rating on PLDT and our one-year target price of P1,780,” SB Equities said. For its part, Abacus Securities Corporation said emphasis should be given to the stocks such as Metrobank, Semirara Mining, LTG Group, Robinsons Land and Shangri-la Properties even though rising interest rates have made fixed income securities more attractive. Abacus also noted that there may be a potential bounce in the share prices of Bank of the Philippine Islands, Ayala Land, Inc. and SM Investments Corporation which have already fallen near their support levels. “We go into (the) week with a lot of negativity as the market crashed (last) week. Based on a technical aspect the next support is at 7,000 and if that is broken we may see it go down to 6,800 which is a 25 percent correction from the high of 9,070 back in January,” said Mangun.