Technicals Talk: SM Investments Corp. (SM) – 25 Sep 2024 by Regina Capital Development Corp.
SM stocks are currently skyrocketing as the bulls push stocks up to the 990.00-1000.000 range.
SM stocks are currently skyrocketing as the bulls push stocks up to the 990.00-1000.000 range.
We’re pushing peaks as the index closed at 7432.21 (+0.24%) yesterday.
Hints for possible tempered inflation in September plus S&P Global Ratingsā rate cut outlook on the Philippines may support advances.
With just a few points shy from the 7,500 zone, participants are likely to take on feelers whether some might seize on this strength to cash-out, while monitoring the depth of positioning on intra-day dips.
Take advantage of the price opportunity that might arise when the news hits. Trade the news!
Take advantage of the price opportunity that might arise when the news hits. Trade the news!
Take advantage of the price opportunity that might arise when the news hits. Trade the news!
Our stock picks for the week
MEG surged above all moving averages last Friday, managing to reach 2.08 intraday and slowly approaching its 52wH of 2.10.
The local central bankās 250bps cut in banksā reserve requirement was more than our estimated 100bps, underscoring their goal of pump-priming the economy.
The PSEi surged 3.27% w/w to close at 7,252.32 (+229.47pts).
PGOLD is heading for another upturn!
ALI has closed with green candles for the 3rd consecutive day this week, reaching 36.10 intraday and moving beyond its 50-MA.
ICT closed with a red candle above its 50-MA, but lower than its 9-MA.
As of the moment, SMPH is currently pursuing an upward climb, rallying above its 50-MA and reaching 33.15 intraday.
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