FREE Technicals Talk: BSC (22 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
BSC Basic Energy Corp. Regina Capital Development Corp. 22 Jan 2021 1.00 / 0.70 1.20

 

The stock floored last week, surprising on the downside and trending the same with almost all mining stocks. It is now on a 3-day losing streak and is on the way to fully correcting its initial rally this year.

Despite the massive selldown, BSC is still far from being oversold. Indicators are still showing a spike in selling momentum as volatility continues to increase.

All things considered, the stock currently looks a bit too unstable.

 

Our Partner Broker’s Recommendation

Wait for the support of P1.00 / P0.70 to hold before positioning.

Cut loss.

 

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.