Technicals Talk: Globe Telecom, Inc. (GLO) – 3 Jul 2024 by RCBC Securities
It may continue to be on bearish mode with its MACD showing increasing signs of
It may continue to be on bearish mode with its MACD showing increasing signs of
The market might take its cue from Wall Street’s 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 August’s rate cut may support sentiment for local equities.
The spotlight is on local monetary authorities’ 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.
The index closed at 6299.05, within a range of 6272.46-6307.51.
Local equities may continue to advance for the third straight session, as some investors position in select large-caps.
Participants are likely to monitor continuity of yesterday’s recovery, especially for select sectors that led the rise (I.e., property & services).
ICT closed sharply bearish at 316.00, down -5.56% with a range of 316.00-341.16.
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