Macro Monday 51 The Philippines – The Trading Hub of Asia The Philippine economy is currently the fastest-growing economy in South East Asia with solid promising growth projections for the next several years. The World Bank's Global Economic Prospects report on East Asia and the Pacific showed that the Philippines and Cambodia will be the second highest growing...
The reason I say this is that I believe base on the price action of globe it is time to pass the old money to the new money. It's clear that the price is currently exhausted if you check the Rsi it's showing a huge bearish divergence. But wave 3 can still double or triple but for now my view it needs a retracement. And it's time for new Gens
Price at 1719 PHP might still consider going down around 1668 or continue the possible move of price upwards. It it breaks the 3 hour supply then I guess we can consider a possible long term buy for the stock.
Buy - I initiated a bid to buy 100 units of SMPH shares today as we anticipate a potential Php 5.00 upside from its current 33.55 closing price. The stock appeared to have reached its support area at around Php 33/share and its currently consolidating in that area which supports this decision.
1D TF - A Pattern form a Symmetrical Triangle - A higher probability of breaking below and targeting the Demand Block at a 22.49% - It is my first time TA this chart and not really familiar with PSE - it just got me interested and wonder where the price will go and what will be the directions of the Philippine Market - I haven't invested in Philippine Market but...
I placed a bid to purchase 100 units of this stock at 43.00 as it broke its resistance of 42. My cut-loss is set below this line.
I sold all my URC stock as it tested and rejected its September 2021 resistance line at 146. This stock will likely revisit 128 level before climbing back up to to re-test 146
$PSEI now on Tradingview. If growth is worst than expected might possibly see <3.5k to 2.6K as strong support area. Immediate resistance at 7.4K. Trade cautiously everyone.
Trend Analsysis continues to tell us to avoid the general indices for now if one wants easy trades. When will it stop? Not sure for now.
As you can see stocks declined since February due to Global conflicts and etc. Fundamental Analysis Aside Technical Analysis since feb indicates that PSEI has bearish signs then on march it showed a choch and a good retracement at an imbalance zone. another confluence is the harmonic pattern formed at the daily time frame which is a butterfly harmonic, target...
$PSE about to DUMP!!! only if, that monthly H&S will materialize this chart is exactly looks like the $BTC.D before the ALTSEASON last december 2020
Parabolic SAR on the Monthly chart says we're bullish, the question is for how long can it sustain?
BUllish only if it breaks above 6,600 invalidating this forecast thus filling thy gap.
I think PSEi is on its way to retest the 20/50 EMA area. The bullish run from January's low still looks strong. The MACD crossover is a weak sell signal. Go and take your profits. Goodluck!
The yearly support at 6282.87 was strongly held last week. US equities also made a strong finish last Friday, which could potentially give a positive result on Philippine equities come Monday, probably up until the Chinese New Year. I'm still bearish with the PSEi, though. The 50-day EMA is now being tested. Let's see if this resistance will be held.
The odds are still on the downside. In fact, it has broken the second line of support at 6282.87 I suggest staying away, at least for now. Let's see if the third line of support at 5696.97 will hold.