ICT ends on the green with little gains from the steep pullback observed from the day before with investors buying at discounted levels to give ICT a slight bump by +1.01% ending at 550.5.
The index depletes by 0.31% falling to 5,887.58, pulling back from the previous rebound observed from the prior weeks.
Movements may remain range-bound, as market watchers heed for catalysts.
Participants might sift through headlines on tempered GDP growth outlook plus S&P Global’s insolvency rating, versus expectations for monetary easing from the Fed & local authorities next week.
CREIT continues its upward trend, as reflected by a series of green candlesticks and its trading above both the 50-MA and 9-MA.
AGI threads lower observing a massive selloff from investors losing -3.90% of its value.
BDO ends on the red with small pullbacks flooding its activity as the stock remains on a range fluctuating within the 20-day MA.
The index comes up by a marginal degree to close below the 6,000 level with investors gradually picking up positions for the holiday season.
Another range-bound session is seen as participants weigh on the odds for the Fed’s rate cut next week, that may be seconded by local monetary authorities.
Participants might angle on the latest weakness in local manufacturing gauge that could raise questions on the strength of 4Q consumer demand.
The PSEi rose 0.42% w/w to 6,022.24, bouncing from 5,800 support levels.
Following Friday’s incline, equities investors may aim for the PSEi’s next trajectory towards 6,200.
Expect volatile sessions, as some might cash-out ahead of US Thanksgiving plus month-end portfolio closing.
ICT closes slightly lower by 0.73% at 546.0 as the stock continues to move within its consolidation range.
On technicals, URC is currently trading close to its all-time low and remains below all key moving averages (20-day, 50-day, 100-day, and 200-day), underscoring persistent bearish momentum.
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