PSE Market Outlook (22 Jan 2025) by 2TradeAsia
Participants may continue to search for trading windows in select stocks, while heeding for latest corporate earnings & other new leads.
Participants may continue to search for trading windows in select stocks, while heeding for latest corporate earnings & other new leads.
Activity might remain light, as global fund managersā attention is swayed to movements at the crypto & currencies market.
CHP closed last friday above its 50-MA close, trading up by +1.79%.
The PSEi slid below its 6,400 support, driven by heavy foreign selling, ending the week down 2.22% w/w at 6,352.12 (-144.20 pts).
Sentiment might take its cue from US equitiesā overnight incline Friday, as global markets monitor sequel policies from the formal inauguration of Pres. Trumpās administration.
CNVRG rose by 2.91%, closing at 17.00/sh, continuing its bullish trajectory as shown by the MACDās green histograms and its position above all MA levels.
SCC increased by 1.00%, closing at 35.40/sh and trading above all MA levels.
SMPH decreased by -1.83%, closing at 24.15/sh.
TEL posted a slight increase of 0.38%, closing at 1,315.00/sh, yet still trading below all key MA levels.
The PSEI decreased by -1.03%, closing at 6,265.52/sh.
Investors would be monitoring for possible repeat of prior sessionās MOC-selling, especially on intra-day rallies.
Local equities may take its cue from Wall Streetās incline, riding on solid earnings from financials & latest CPI gauge in relation to the Fedās possible course on interest rates.
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