URC continues to go sideways, where its price slightly rose by +0.98%, closing at 61.80—surpassing the MA 9 level, highlighting a short-term buying pressure.
The PSEi increased by +1.14%, closing at 6,113.19.
Local participants would check on possible rises to 6,200, given the recent recovery, as others monitor supply availability on rallies.
SEVN goes down below all Mas giving signs of bearish momentum.
Attention is on BSP’s policy meeting, with consensus for possible 25bps rate cut.
FDC was down by -0.20%, and closed below its 50-MA and 100-MA.
CNPF dropped 3.13% intraday, sliding further below its 50 and 100-day moving averages.
BPI attempted to sustain its recent climb but closed -0.54% intraday.
JFC managed a +1.46% intraday gain, but the broader downtrend remains intact.
The PSEi remains under pressure, declining by -0.82% intraday and slipping below the 6,000 mark once again.
Buyers might bid for time until sessions break-away from the usual solid opening, only to meet supply pressure in the process.
Renewed positioning might be in store for local equities, as buyers aim for the 6,000 mark.
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