FREE Technicals Talk: ACEN (6 Jan 2021) by Regina Capital Development Corp.

The “Technicals Talk” section summarizes our partner brokers’ technical analysis of select PSE stocks. Technical Analysis relies on trends and price movements and is typically used in short-term trading. Learn how you can use this report in this PinoyInvestor guide.

 

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Our Partner Broker’s Analysis and Opinion
Stock Code Company Broker Opinion Issued on Support Resistance
ACEN AC Energy Corporation Regina Capital Development Corp. 6 Jan 2021 9.00 / 8.10 11.00

 

The stock quickly shed earlier gains after reaching an intra-day high of P11.28. ACEN was sold down during the second half of the trading session but closed a few points above the nearest support of P9.15.

All indicators are still showing bullish buy signals. RSI has calmed down somewhat to 70.75 (previously 91.19), but this means that ACEN is still overbought. Note that while MACD signals are still on a buy, DMIs are nearing convergence to a selling bias.

Closely monitor the P9.00 price level, for this is the crucial psychological support that cements the difference between a healthy pullback leading to a bounce and a solid breakdown.

 

Our Partner Broker’s Recommendation

Sell on rallies.

 

This report is prepared by PinoyInvestor’s partner broker below. Sign up to this stock broker to avail of their complete trading brokerage services:

Regina Capital Development Corporation
Regina Capital Development Corporation

Regina Capital Development Corporation is one of PinoyInvestor’s partners in delivering superior and reliable stock research reports that help Filipino investors make smart stock investing decisions! Learn more about them here.