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| PH Financials As of 2.06.17 |
Like the US markets, PH Financials have shown promising signals of a greater probability of a good run towards the 1834 levels; currently @1789 to this writing.
The corrective phase with a higher low @1598 serves as the relative support which held well above its two (2) previous lows established last 2013 & 2016 respectively. In spite of the price correction, the PSEI reached a low at 7185 well within our price range low of 7150 the first week of February trading from a previous high @7400 levels. And have recovered back near the 7300 isolating itself from the heavily burdened 'Mining Sector' price decline due to the closure directives of the Department of Environment & Natural Resources (DENR) Head Gena Lopez.
PH Financials and Property Sectors Takes the Lead.
PSE Holdings were down @7315 (-62.41) equivalent to -0.85% that partially spilled over on MetroBank the most actively traded stock with PH Financials down @1763.(-5.76) -0.33%. With the declines of Ayala & SM Investments just to name a few brought about the PSEI decline as the major stocks of heavy weights would certainly do so.
ReplyDeleteAnother day of heavy selling on the opening bell. Followed by Foreign selling from top heavy weights during the afternoon session which led to financials decline more than what is expected. Again MetroBank was the most traded stock declining towards the 77.10 levels in mid-day.
ReplyDelete