Technicals Talk: Monde Nissin Corp. (MONDE) – 14 Feb 2024 by Regina Capital Development Corp.
The stock has experienced a sustained upward trend for over 5 consecutive days.
Technicals Talk reports contain our partner brokers’ technical analyses of select PSE stocks. Technical Analysis relies on trends and price movements and is typically used when doing short-term or day trading.
The stock has experienced a sustained upward trend for over 5 consecutive days.
Potential inverse head and shoulder pattern.
DNL pulled back yesterday, down by 0.60%, to close at 6.66.
Potential support at 20EMA trail.
Yesterday, GTCAP broke out of the 667-670 resistance area on above average volume gaining 3.88% and closed at its 3-year high of 683.00.
MONDE traded higher last Friday, up by 7.29% to close at 9.42.
Inverse head and shoulder pattern.
Looking at the chart, the overextension of DMC’s rally does not seem to bother the bulls.
MER is on its sixth day of decline and is currently trading below its 50d and 100d MAs.
50EMA trail resistance levels.
Symmetrical triangle pattern.
After rising by as much as 13% in December 2023, AC has been trending down with its 100-D EMA acting as support.
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