PSE Market Outlook (13 Nov 2023) by First Metro Securities
The PSEi surged by +2.88% w-o-w, sustaining its rally the previous week. However, the volume remained tepid at P3.1bn.
The PSEi surged by +2.88% w-o-w, sustaining its rally the previous week. However, the volume remained tepid at P3.1bn.
Sentiment might sway to Wall Street’s ascent, as portfolio repositioning builds ground for 2024.
Downtrend channel.
Shooting star pattern.
With the prior rally, JFC seems to be cooling down as it ended at 218.40 yesterday.
The PSEI showed strength once again as it added +33.19pts or +0.54%, ending at 6,188.22 in yesterday’s trade.
Share prices would balance-off stronger-than-estimated 3Q GDP with the Fed’s reiteration to keep monetary policies tight to meet their inflation goal.
Here’s a commentary on an important issue or event affecting the stock market
Market investors will get feelers on 3Q23 GDP results (from +4.3% in 2Q23), and balance prospects towards 2024.
Bullish engulfing pattern.
In our view, SMPH could now take off anytime soon. Intraday, the stock fell until
Inverse head and shoulder pattern breakout.
The local bourse successfully rallied for the second straight day as the technical bounce in the market remained strong.
Follow-through response to tamer inflation in October might support sequel buying in equities.
ACEN closed at 5.45 yesterday, up by 1.30%. The stock is forming
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