Technicals Talk: Robinsons Land Corp. (RLC) – 5 Jul 2024 by Regina Capital Development Corp.
Nope — still not a reversal! Looks like investors trimmed losses in yesterday’s session, dragging RLC on a breakdown.
Nope — still not a reversal! Looks like investors trimmed losses in yesterday’s session, dragging RLC on a breakdown.
The index closed on a high note on resistance levels yesterday at 6507.49 (+0.89%), with all indicators showing bullishness and stocks rallying.
Market participants would heed to latest inflation for June (vs. Mayās 3.9%), with BSPās outlook pegged at 3.7% to 4.5%.
Attention is set whether local gauges would scale back to 6,500, while waiting for Juneās inflation data this Friday.
It may continue to be on bearish mode with its MACD showing increasing signs of
The market might take its cue from Wall Streetās ascent, with very few macro leads available locally.
Here’s an update to the stock composition of the three new model portfolios!
CNVRG is trading in the range of 10.20-11.42 and exhibits a bullish trend, as indicated by an RSI of 64.46.
CNPF is currently trading within the range of 32.18-33.85, exhibiting a bearish trend as indicated by an RSI of 38.92.
A key vulnerability is the proximity to a death cross, with the 50-day moving average nearing the 200-day moving average, which could signal a bearish trend if crossed.
Reinforced support from the BSP for the likelihood of Augustās rate cut may support sentiment for local equities.
The spotlight is on local monetary authoritiesā policy meeting, with consensus skewed for another status quo.
GLO is trading within a range of 1931.12-2013.02, with an RSI of 59.44, indicating moderately strong momentum.
LTG is trading within a range of 9.91-10.04, with an RSI of 41.33, indicating a bearish momentum without reaching oversold conditions.
AEV is trading within a range of 37.02-39.38, with an RSI of 42.33 on a downturn, indicating weakening momentum.
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