Technicals Talk: Manila Electric Company (MER) – 24 Jan 2025 by Regina Capital Development Corp.
MER is down by -1.40%, closing at 493.00/sh.
MER is down by -1.40%, closing at 493.00/sh.
The PSEi ended with a modest gain of +0.48%, closing at 6,378.86/sh.
The market might take comfort from Pres. Trump’s latest statement in the World Economic Forum calling for OPEC to reduce prices & for central banks to support lowering interest rates.
Market participants may continue to monitor supply presence in select sectors during intra-day strength, as sentiment takes its cue from Wall Street’s incline.
Our stock picks for the week
BDO went down by -1.50% intraday, continuing to trade below its key moving averages.
The PSEi ended yesterday’s session with a doji candlestick, reflecting market indecision as price action remains anchored at the 6,300 level.
Participants may continue to search for trading windows in select stocks, while heeding for latest corporate earnings & other new leads.
Activity might remain light, as global fund managers’ attention is swayed to movements at the crypto & currencies market.
CHP closed last friday above its 50-MA close, trading up by +1.79%.
The PSEi slid below its 6,400 support, driven by heavy foreign selling, ending the week down 2.22% w/w at 6,352.12 (-144.20 pts).
Sentiment might take its cue from US equities’ overnight incline Friday, as global markets monitor sequel policies from the formal inauguration of Pres. Trump’s administration.
CNVRG rose by 2.91%, closing at 17.00/sh, continuing its bullish trajectory as shown by the MACD’s green histograms and its position above all MA levels.
SCC increased by 1.00%, closing at 35.40/sh and trading above all MA levels.
SMPH decreased by -1.83%, closing at 24.15/sh.
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