Technicals Talk: Manila Water Company (MWC) – 28 Mar 2023 by First Metro Securities
Year-to-date, the counter pulled back by as much as 18% to P17.28 from a high of P21.20, bringing the stock to an oversold levels with RSI at 25.0.
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.
Year-to-date, the counter pulled back by as much as 18% to P17.28 from a high of P21.20, bringing the stock to an oversold levels with RSI at 25.0.
The stock is hovering below its key moving averages (50-day and 100-day).
Weakening 20EMA trail resistance.
Price near critical support levels.
PGOLD traded near its 200-day EMA but pulled back to close at 32.70, gaining 1.55% last Friday.
After hitting its range support, ICT has surged to test its high at 213.20.
SM is currently staying at 900 levels while it’s trying to go upwards to 950 levels.
ICT’s support of 200 has been solidly holding as prices consolidate in that area.
Things have been very interesting for ALI as price action seems to go downwards but with most indicators showing bullishness.
JFC has been trying to go above its resistance of 227.
Shooting star pattern at neckline.
Head and Shoulder pattern.
URC is currently trading on a sideway channel ranging from 145.00 resistance to 133.50 support levels.
RLC failed to hold its support at 14.50 and it could potentially slide down to 13.11 which is its yearly support.
DMC ended strong yesterday up by 0.69% to close at 11.66.
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