PSE Market Outlook (24 Jun 2024) by Regina Capital Development Corp.
The PSEi closed sharply at 6158.48, a volatile session within 6158.48-6394.33.
The PSEi closed sharply at 6158.48, a volatile session within 6158.48-6394.33.
Caution might be the main theme this week with the quarter-end portfolio closing.
The PSEi rose by 1.33% w/w to close at 6,518.76 (+85.66 pts).
Sentiment might take its cue from DJIA’s ascent, on prospects for the Fed’s policy easing & reports of accommodative policies from China.
Participants might bid for time to check on turnover improvement, supporting local benchmark’s sideways movement.
BPI has been on a steady downtrend since mid-January and has settled just above its major support at PHP
SCC has been bearish, trading within the 31.65-32.18 range.
BLOOM is showing clear bearish signals across multiple indicators, with a range of 9.96-10.24.
EMI closed at 18.80, with a range of 18.74-19.01, accompanied by mixed indicators.
The PSEi closed at 6368.80, showing a range between 6343.69 and 6459.38.
Another range-bound session & selective trade might persist, unless significant build-up in turnover occurs for local equities.
Strong technical bounce after the month-long nose dive!
SMPH appears to be in the grip of the bears, steadily marching south.
Seems like the bears are still in control over RLC, dragging the stock price to 15.20.
The PSEI is still clearly under the spell of the bears.
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