FREE Technicals Talk: GLO (12 Jan 2022) 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
GLO Globe Telecom Inc. Regina Capital Development Corp. 12 Jan 2022 3200 / 3125 / 2980 3400 / 3600

 

While GLO’s sideways consolidation range is still holding, it is currently trading at the lower band of the range — which typically indicates an entry point for possible positioning.

Indicators are all still heavy on the selling pressure, but the DMIs are showing an evident lack of momentum.

With this in mind, we think the chances of GLO breaking down past its P3,200.00 support are extremely low. But if it does venture below this level, an eventual bounce would likely occur closer to GLO’s 100-d MA of P3,125.00.

 

Our Partner Broker’s Recommendation

Buy.

Weekly target: P3,300.00.

Support: P3,200.00 / 3,125.00 / 2,980.00.

Resistance: P3,400.00 / 3,600.00.

 

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Regina Capital Development Corporation
Regina Capital Development Corporation

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