PSE Market Outlook (15 Jul 2024) by First Metro Securities
The PSEi sustained its ascent, gaining by +2.39% w/w to close at 6,648.23pts.
The PSEi sustained its ascent, gaining by +2.39% w/w to close at 6,648.23pts.
GLO is currently trading within the range 2045-2153, with the stock’s price above its key historical price levels.
BDO is currently trading within the range of 137.00-140.80, with the stock’s price rallying above the 50-MA and 100-MA lines.
ALI is currently consolidating within the range 28.20-29.60, with all indicators showing bullish sentiments.
The index closed at 6609.24 yesterday (+1.85%) within the range of 6484-6638, with all indicators exhibiting signs of bullishness.
Eyes are set whether the PSEi would continue its recent strength, or sellers might seize on this move to pocket gains.
Sentiment might take its cue from Wall Street’s ascent, as expectations build for consideration of less-restrictive monetary policies by the Fed for the remainder this year.
Participants will monitor local gauges’ staying power above 6,500, as some players seize on this strength to cash-out.
BDO’s share price has been forming lower highs and lower lows since reaching its all- time high of 160.70, creating a downward channel.
The market might take its cue from Wall Street’s incline, with the latest jobs data supporting expectations for monetary easing from the Fed.
The PSEi rose by +1.26% w/w to close at 6,492.75pts.
DMC is seeing a consolidation phase around the 50-MA and 100-MA areas, trading within the 10.98-11.09 range.
BPI is currently trading within the range of 115.86-117.94.
Nope — still not a reversal! Looks like investors trimmed losses in yesterday’s session, dragging RLC on a breakdown.
The index closed on a high note on resistance levels yesterday at 6507.49 (+0.89%), with all indicators showing bullishness and stocks rallying.
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