Technicals Talk: Aboitiz Power Corp. (AP) – 15 Nov 2023 by Regina Capital Development Corp.
The bears and the bulls are playing tug-o-war for AP, as seen on the latter’s spinning top candle.
The bears and the bulls are playing tug-o-war for AP, as seen on the latter’s spinning top candle.
Inverse head and shoulder pattern.
It appears CNVRG had difficulty in breaking its resistance level of 9.00 and has fallen to levels below all of its MAs.
The stock has had difficulty for the last two months as the stock exhibits patterns of a downward trend.
The PSEi showed higher volume for yesterday compared to the day prior.
Focus will be on possible improvement in yesterday’s dismal turnover, ahead of latest inflation print in the US that might support expectations for the Fed’s next course on interest rates.
Descending triangle pattern.
Weakening momentum on RSI and Stochastics.
The PSEi surged by +2.88% w-o-w, sustaining its rally the previous week. However, the volume remained tepid at P3.1bn.
Sentiment might sway to Wall Street’s ascent, as portfolio repositioning builds ground for 2024.
Downtrend channel.
Shooting star pattern.
With the prior rally, JFC seems to be cooling down as it ended at 218.40 yesterday.
The PSEI showed strength once again as it added +33.19pts or +0.54%, ending at 6,188.22 in yesterday’s trade.
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