PSE Market Outlook (13 Mar 2024) by Regina Capital Development Corp.
The local bourse managed to settle higher by +0.11% to 6,878.49, albeit ended on a red inverse hammer.
The local bourse managed to settle higher by +0.11% to 6,878.49, albeit ended on a red inverse hammer.
SCC moved up for two consecutive days after it bounced from a pullback to its short-term support at 33.50 last week.
Inverse head and shoulder pattern.
Inverse head and shoulder pattern breakout.
After rallying by 12% in February, CHIB’s share price has pulled back and is currently consolidating for almost a month.
The PSEi rose by +0.33 w-o-w to end at 6,942.21 (+22.62pts).
Eyes are set on possible move above the 7,000 zone, as investors check on continuity of Friday’s momentum.
CNVRG’s 100d MA has finally thrown in the towel.
Ascending triangle pattern.
Inverse head and shoulder pattern breakout.
One of the most actively traded stocks, as of writing, is SMPH.
Despite the drop in AEV’s price, the indicators remain bullish towards the stock.
The PSEi dipped for the third consecutive day yesterday, settling at 6837.34, down by -0.60%.
Having softened below the 6,900 mark, participants would check on the likelihood for continued supply pressure at current levels versus fresh buying support.
Previous 50EMA trail resistance became support.
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