Technicals Talk: Manila Electric Company (MER) – 2 Feb 2024 by Regina Capital Development Corp.
MER is on its sixth day of decline and is currently trading below its 50d and 100d MAs.
Technicals Talk reports contain our partner brokers’ technical analyses of select PSE stocks. Technical Analysis relies on trends and price movements and is typically used when doing short-term or day trading.
MER is on its sixth day of decline and is currently trading below its 50d and 100d MAs.
Symmetrical triangle pattern.
After rising by as much as 13% in December 2023, AC has been trending down with its 100-D EMA acting as support.
MWC is presently having a substantial decline, indicating a strong presence of bearish sentiment as the bears seize control of the market.
Previous resistance is a potential support.
BLOOM’s recent price action shows an interesting technical picture as the stock moves in a steady upturn.
ICT ended yesterday’s trading down -2.03% at 241.00 — snapping its 3-day ascent.
BLOOM continued to trend upwards and closed higher yesterday at 11.40.
Strong confluence of support at 100EMA trail.
Strong confluence of support at 50% Fibonacci Retracement level.
Bullish crossover on Stochastics.
Inverse head and shoulder pattern.
RLC’s share price rallied by more than 4% week-to-date and breached the 16.50 resistance creating a new 52-week high of 16.70.
Breakout of downtrend channel.
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