PSE Market Outlook (19 Mar 2024) by 2TradeAsia
Participants might laud the passage on final reading CREATE MORE, especially with the lowering of corporate income tax to 20%.
Participants might laud the passage on final reading CREATE MORE, especially with the lowering of corporate income tax to 20%.
Participants might adopt a cautious stance this week, ahead of guidance from the US FOMC meeting on 19-20 March (US time).
Potential Gap-fill.
AEV is currently fluctuating within a range of 38.18 to 42.56.
Ascending triangle pattern.
Inverse head and shoulder pattern breakout.
Market players will monitor possible cross above the 7,000 mark, to check whether profit-taking might emerge.
The stock’s 50-d MA looks to hold relatively flat as JGS sees low volatility.
Looks like the demand still hasn’t faltered yet!
Continuing its ascent, SM has reached its fresh 52-week high of 995.50 yesterday.
The local bourse managed to settle higher by +0.11% to 6,878.49, albeit ended on a red inverse hammer.
SCC moved up for two consecutive days after it bounced from a pullback to its short-term support at 33.50 last week.
Inverse head and shoulder pattern.
Inverse head and shoulder pattern breakout.
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