PSE Market Outlook (22 Apr 2024) by Regina Capital Development Corp.
The index closed last week showing extreme bearishness, having dipped below all significant moving averages but is now consolidating around the 200-day MA, suggesting
The index closed last week showing extreme bearishness, having dipped below all significant moving averages but is now consolidating around the 200-day MA, suggesting
FGEN maintained its positive momentum, closing yesterday’s session with a gain of +1.05% at 19.30, forming a doji candlestick pattern.
BDO relinquished all its gains by the end of yesterday’s session, closing with a decline of -1.27% at 148.10.
Yesterday, the local stock market staged a notable recovery, surpassing the 6500 level for the second consecutive day.
Our Target Price and recommendation for this stock is
Our recommendation and 1-year Target Price for this stock is
Our recommendation and 1-year Target Price for this stock is
ACEN is currently seeing strong selling pressure trading in the 3.28-4.41 range, with price gradually dropping to levels drastically lower than that of recent years.
After Monday’s price decline, ICT kicked off Tuesday’s trading session with a notable gap down, further pushing the RSI into bearish territory.
The stock is pushing pre-pandemic resistance levels, trading within support levels in the 56.60-71.60 range with prices going up.
Following Monday’s bearish marubozu candlestick, the bears have managed to push JFC into the oversold territory.
The indexโs standing decreased by -10.57% in less than 2 weeks, indicating rapid and substantial losses trading now within the 6404.97 to 7082.02 range.
The outlook for MER stock prices has been uncertain for traders, as the market has been staggering within the 350.50-376.90 range.
The heavy selling pressure dragged ALI’s price to 28.50 during the market open, touching its intraday low of 27.60.
GTCAP has caught the attention of the bears. The stock fell -3.58% to 674.00 trailing only behind ALI as one of the most heavily hit stocks today.
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