Technicals Talk: Manila Electric Company (MER) – 24 Apr 2022 by RCBC Securities
MER’s share price rebounded by 8% after filling the gap last March 28 and formed a
MER’s share price rebounded by 8% after filling the gap last March 28 and formed a
The PSEi rebounded last week, however, value turnover averaged only at P3.8bn.
Expect volatility this week, as investors check for month-end portfolio re-balancing.
Breakout of previous high.
AC shares fell significantly in yesterday’s trading.
BDO was able to hold prices higher on closing.
The index closed slightly lower at 6,464.72 moving closer to its support of
Light sessions might continue, as participants check for catalysts to prod aggressive positioning.
Potential retest of 200EMA trail resistance.
The market traded in a tight range last week, however, the PSEi still closed below the 200-day MA.
Participants might look forward for 1Q23 earnings guidance for most of the week, as several listed firms line-up for their annual generation meeting (AGM) season.
Sentiment might take its cue from US equities’ overnight advance (DJIA +1.14%, Nasdaq Comp. +1.99%), as well as indications from BSP Gov. Medalla for consideration of rate pauses given the recent MoM inflation trend.
Our recommendation and 1-year Target Price for this stock is
Our recommendation and 1-year Target Price for this stock is
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