PSE Market Outlook (24 Oct 2023) by 2TradeAsia
Eyes are set whether some participants would seize on the bourse’s current state to buy into
Eyes are set whether some participants would seize on the bourse’s current state to buy into
Last week, MER reached another 52-wk high!
The PSEi ended Friday at 6,142.90 (down by -1.23% or -76.26pts), breaking the 62H threshold.
The PSEi dropped by -1.97% w-o-w to close at 6,142.90, breaking below the 6,200 support level.
From the looks of it, the strong support is observed in the 112 levels for URC.
BLOOM broke below its 200-day EMA (10.00) to close at 9.99 down by 0.30%.
Another landslide for MEG! The stock once again formed a waterfall move as it
Raining reds? The PSEi ended on a red declining by -0.78% or -49.11pts to 6,219.16 yesterday.
Ascending triangle pattern.
The mood might stay cautious for now, with global investors attuned to headlines on the Israel-Hamas conflict, including results of Pres. Biden’s visit.
The stock seems to be confined in a trading range, which the bulls are attempting to break out from.
After gaining around 200% year-to-date and reaching an all-time high of 7.32, PLUS’ share price pulled back by as much as 10% and formed a
ICT is just a few points shy away from its resistance of 216.00.
Fingers-crossed this is not a dead cat bounce! 🤞🏻
Market participants would check for continuity of yesterday’s ascent, as investors heed for the release of 3Q earnings results from listed firms.
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