PSE Market Outlook (12 Jul 2024) by Regina Capital Development Corp.
The index closed at 6609.24 yesterday (+1.85%) within the range of 6484-6638, with all indicators exhibiting signs of bullishness.
The index closed at 6609.24 yesterday (+1.85%) within the range of 6484-6638, with all indicators exhibiting signs of bullishness.
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.
CNVRG is trading in the range of 10.20-11.42 and exhibits a bullish trend, as indicated by an RSI of 64.46.
CNPF is currently trading within the range of 32.18-33.85, exhibiting a bearish trend as indicated by an RSI of 38.92.
A key vulnerability is the proximity to a death cross, with the 50-day moving average nearing the 200-day moving average, which could signal a bearish trend if crossed.
GLO is trading within a range of 1931.12-2013.02, with an RSI of 59.44, indicating moderately strong momentum.
LTG is trading within a range of 9.91-10.04, with an RSI of 41.33, indicating a bearish momentum without reaching oversold conditions.
AEV is trading within a range of 37.02-39.38, with an RSI of 42.33 on a downturn, indicating weakening momentum.
The index closed at 6299.05, within a range of 6272.46-6307.51.
ICT closed sharply bearish at 316.00, down -5.56% with a range of 316.00-341.16.
The PSEi closed sharply at 6158.48, a volatile session within 6158.48-6394.33.
SCC has been bearish, trading within the 31.65-32.18 range.
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