Technicals Talk: Bloomberry Resorts Corp. (BLOOM) – 15 Nov 2023 by Regina Capital Development Corp.
The stock has had difficulty for the last two months as the stock exhibits patterns of a downward trend.
The stock has had difficulty for the last two months as the stock exhibits patterns of a downward trend.
The PSEi showed higher volume for yesterday compared to the day prior.
Focus will be on possible improvement in yesterday’s dismal turnover, ahead of latest inflation print in the US that might support expectations for the Fed’s next course on interest rates.
Descending triangle pattern.
Weakening momentum on RSI and Stochastics.
The PSEi surged by +2.88% w-o-w, sustaining its rally the previous week. However, the volume remained tepid at P3.1bn.
Sentiment might sway to Wall Street’s ascent, as portfolio repositioning builds ground for 2024.
Downtrend channel.
Shooting star pattern.
With the prior rally, JFC seems to be cooling down as it ended at 218.40 yesterday.
The PSEI showed strength once again as it added +33.19pts or +0.54%, ending at 6,188.22 in yesterday’s trade.
Share prices would balance-off stronger-than-estimated 3Q GDP with the Fed’s reiteration to keep monetary policies tight to meet their inflation goal.
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