Technicals Talk: Security Bank (SECB) – 7 Nov 2023 by AP Securities
Potential descending triangle pattern.
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.
Potential descending triangle pattern.
AC has been trading sideways between the 600.00 to 630.00 range for 2 months now and currently hovering below its 100-day MA which has been acting as resistance since mid-June.
MER has logged an intraday high of 368 today. However, some profit-takers came out causing the gains on MER to get trimmed down.
After hitting an all-time high of 151.40 on July 25, BDO pulled back by as much as 15% and broke below the uptrend line as well as its 200-day MA.
Head and Shoulders pattern.
AGI failed to flip its trend upside down yesterday, which is likely going to be the same case today.
Weakening momentum on RSI and Stochastics.
Range trade over? BPI is close to trading below 100 and in the double digit levels as shares see sustained selling pressure.
JFC broke down from its 211.80 support yesterday, down by 2.24% to close at 210.00.
Last week, MER reached another 52-wk high!
BLOOM broke below its 200-day EMA (10.00) to close at 9.99 down by 0.30%.
From the looks of it, the strong support is observed in the 112 levels for URC.
Another landslide for MEG! The stock once again formed a waterfall move as it
Ascending triangle pattern.
The stock seems to be confined in a trading range, which the bulls are attempting to break out from.
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