Technicals Talk: Bloomberry Resorts Corp. (BLOOM) – 7 May 2025 by Regina Capital Development Corp.
BLOOM surges +9.97% as bullish momentum builds following a strong rebound from its downtrend.
BLOOM surges +9.97% as bullish momentum builds following a strong rebound from its downtrend.
Following a strong continuation of the recent uptrend, the PSEi edged higher and consolidated near the 6,500 mark.
The market might be receptive to April’s inflation (1.4% vs March’s 1.8%), & likely to switch attention to the local central bank’s policy response.
Similar pattern may be seen, as fund managers await for results from the Fed’s policy meeting.
AC wrapped up the week with its second consecutive green session, signalling renewed bullish enthusiasm.
The PSEi increased 2.28% w/w to 6,411.86 (+143.11pts), breaking past its 6,400 resistance as well as its 20-day, 50- day, and 100-day moving averages (MA).
Market’s attention might sway to the Fed’s policy move on 06-07 May meeting, plus the release of Philippine 1Q GDP on 08 May.
After a period of sideways movement, BPI surged by +5.26%, breaking well above major moving averages.
SMPH has been on a steady upward trajectory, rising by +6.33% and trading comfortably above its 50-MA and 100-MA.
Following two days of declines, MBT made a strong rebound, soaring by +6.51% and breaking above all key moving averages.
Following the doji from the previous day, the index gained +1.64%.
Sentiment might take its cue from expectations for possible 100bps rate cut from the Fed following frail 1Q GDP in the US (-0.3%).
AP remains under short-term bearish pressure, with price action rejecting a key resistance near 39.00 and retreating toward support around 36.50.
BDO gains +3.34% after huge sell-off on yesterday’s session, stock remains to trade above key MAs maintaining buy pressure.
URC gains strong bounce closing at 84.70 (+5.22%).
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