FREE Technicals Talk: EAGLE (11 Nov 2020) 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
EAGLE Eagle Cement Corp Regina Capital Development Corporation 11 Nov 2020 15.00 / 13.58 16.20 / 16.70

 

EAGLE’s been on a roll since the tail-end of October, as it managed to sustain a consistent rally since the 21st.

The trend looks strong and bullish, but all indicators are already ringing overbought alarm bells. MACD signal lines are on a buy. RSI is extremely overbought at 80. DMIs are showing significantly high buying pressure, but with decreasing momentum.

At this point, the next resistance is at 16.20 and then 16.70. With ATR starting to simmer down, we do not expect that EAGLE will fully break these levels any time soon. However, brief bouts above those levels are possible intra-day.

 

Our Partner Broker’s Recommendation

Take profits.

 

 

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

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