Technicals Talk: Monde Nissin Corp. (MONDE) – 5 Feb 2024 by RCBC Securities
MONDE traded higher last Friday, up by 7.29% to close at 9.42.
MONDE traded higher last Friday, up by 7.29% to close at 9.42.
Inverse head and shoulder pattern.
Attention is set for the 6,800 target, having moved past 6,700.
The market is trading above key moving averages (50-day, 100-day, and 200 -day) and is poised to revisit the next resistance level.
Looking at the chart, the overextension of DMC’s rally does not seem to bother the bulls.
MER is on its sixth day of decline and is currently trading below its 50d and 100d MAs.
50EMA trail resistance levels.
Symmetrical triangle pattern.
The PSEi concluded yesterday’s session with a -23.42pts decline to 6,623.01.
Sentiment might glide to Wall Street’s renewed strength, as participants heed for earnings guidance on trajectory this year.
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