Going back to the basics on this trading idea. Suppose you have an AUS200 long position, it is a good time to sell it now, as shown by the Parabolic SAR indicator. As for me, I'm taking a short position at the break of last session's low. Short at 5659. Stop loss at 5724.7. Target profit at 5500 (2.44x reward-to-risk ratio). Good luck!
Despite 2Q missed earnings and the Php1Bil fine for non-compliance with banking laws, I'll take my chances on RCB. On a technical note, the MACD coming from a buy crossover, is now above the zero-line which indicates a stronger buy signal. Also, the YTD support at around 29.50 is looking strong. I'll have my stop at 28.75 (YTD low). Good luck!
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.
Probably the strongest index name in the PSEi, MER has a potential to hit the 340.21 resistance target. But considering the volume profile (2014 to present), the point of control is priced at 267.97 And adding to the fact that the PSEi is still on a downtrend, this makes me cautious of buying in on the pivot set at 306.13. In any case, I'll buy some units at ...