On technicals, AREIT is currently trading sideways above key moving averages (MA) 50-day and 200-day and is also trending around the 20-day MA and is playing as a strong support to the price action.
RCR is trading sideways, with price oscillating in a tight band.
The index eased to −0.17% after its three-day rally closing at 6,408.76 while staying comfortably above key moving averages and signaling an intact bullish bias.
Movements might stay range-bound for now, possibly with a plus-side boost, as fund managers position in key large-caps.
IMI broke above its pennant consolidation pattern to hit our target price of PHP4.14.
Gauges might be poised for slight technical breathers, given its ascent the previous sessions.
The PSEi rose 3.5% w/w, closing at 6,348.14 (+213.1 pts).
Another positive tone is in store for equities, as investors may take their cue from Wall Street’s Friday incline.
ICT closed higher as buyers remained to regain control amid profit-taking, trading above the moving average as the uptrend accelerates.
BDO closed lower after retesting the 200MA while holding above the 50MA and 100MA, suggesting a healthy pause after the recent rally.
The index edged up +0.45% higher after a short retest in resistance levels staying above moving averages, signaling sustained bullish sentiment.
Movements might be in a narrow range for now, as those likely to position check for supply presence on intra-day strength.
The PSEi rose 0.19% w/w, closing at 6,052.92 (+11.70 pts), and is forming a reverse head and shoulders pattern, which is a bullish reversal signal.
Friday’s trades would likely be range-bound, with several fund managers on their New Year break.
JFC attempts to stabilize as price rebounds from recent lows while trying to reclaim the 50MA level.
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