Technicals Talk: Manila Electric Company (MER) – 6 Nov 2023 by Regina Capital Development Corp.
MER has logged an intraday high of 368 today. However, some profit-takers came out causing the gains on MER to get trimmed down.
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 has logged an intraday high of 368 today. However, some profit-takers came out causing the gains on MER to get trimmed down.
After hitting an all-time high of 151.40 on July 25, BDO pulled back by as much as 15% and broke below the uptrend line as well as its 200-day MA.
Head and Shoulders pattern.
AGI failed to flip its trend upside down yesterday, which is likely going to be the same case today.
Range trade over? BPI is close to trading below 100 and in the double digit levels as shares see sustained selling pressure.
Weakening momentum on RSI and Stochastics.
JFC broke down from its 211.80 support yesterday, down by 2.24% to close at 210.00.
Last week, MER reached another 52-wk high!
BLOOM broke below its 200-day EMA (10.00) to close at 9.99 down by 0.30%.
From the looks of it, the strong support is observed in the 112 levels for URC.
Another landslide for MEG! The stock once again formed a waterfall move as it
Ascending triangle pattern.
The stock seems to be confined in a trading range, which the bulls are attempting to break out from.
After gaining around 200% year-to-date and reaching an all-time high of 7.32, PLUS’ share price pulled back by as much as 10% and formed a
ICT is just a few points shy away from its resistance of 216.00.
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