PSE Market Outlook (22 May 2023) by 2TradeAsia
Mixed tones might greet Monday’s trades, as investors sift through headlines on the approval of debt ceiling cap in the US, as well as those at home.
Mixed tones might greet Monday’s trades, as investors sift through headlines on the approval of debt ceiling cap in the US, as well as those at home.
Potential breakout of ascending triangle pattern.
Recovering momentum on RSI and Stochastics.
Breakout of 200EMA levels and downtrend Channel.
Recovering momentum on RSI.
Higher planes are in store for local equities, on prospects for status quo on domestic interest rates & possible consideration for cuts in reserve requirement.
RRHI is currently on a downtrend channel since the start of the year and is tracking its 50-day EMA as its resistance.
Bullish engulfing pattern at previous neckline levels.
Recovering momentum on RSI.
Sessions might be range-bound, as participants sift through latest retail sales growth in the US against economic growth outlook.
Potential bounce at 200EMA levels.
Higher sessions are seen, as participants position for possible status quo from local monetary authorities from Thursday’s policy meeting.
Previous resistance is a potential support.
MWC shares have been on an upward trend, trading above the 20-peso range, above its 50- d MA of 19.10.
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