Technicals Talk: Globe Telecom, Inc. (GLO) – 25 Oct 2024 by Regina Capital Development Corp.
GLO is gradually descending below its 50-MA, reaching 2,312 intraday.
GLO is gradually descending below its 50-MA, reaching 2,312 intraday.
CNPF closed down -1.46% intraday, following a surge of +6.03% in the previous session.
MONDE closed down -2.61% intraday after a large buy-up in the previous session.
MBT closed at 77.00 with a red candle, extending the bearish momentum over the past week.
The PSEI closed at 7,283.79 yesterday, down -1.14% intraday, losing its grip on the recent upward trend.
Having fallen below 7,300, market participants might bid for time for the gauge to stabilize, possibly above the 7,200 zone.
Another subdued session might prevail, as participants heed for other catalysts to support positioning, while monitoring the effects of the current typhoon.
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ALI closed just below its 9-MA at 35.80 (-0.56%).
The PSEI closed at 7,413.16 (+0.09%), exhibiting a sideways trend.
Another subdued session is seen, as participants’ attention is swayed by developments on the typhoon within the area of Philippine responsibility.
Subdued sessions may continue, as some investors check on momentum improvement prior to positioning.
The PSEi rose by 1.44% w/w, closing at 7415.73 (+105.41pts).
Sentiment could sway to optimism in the region, following latest steps taken by China to boost growth in its economy.
CNVRG closed above key resistance at 17.26/sh, riding an uptrend above all moving averages.
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