Identify Prices & Weigh Market Conditions
A mix bag of market news mostly coming from the earnings report in the early trading hours at the PSE has started with a massive decline for the PSEI marking a low @7724 at the half time mark during the day while ending the week at 7815. Relatively pushing a greater majority of stocks in negative territory with #TEL, #GLO and #JGS disappointing numbers to say the least. And this led most of the day's pessimistic sentiments carry-over especially at the end of the week's trading being a Friday.
Our take on this market scenario which is worth sharing our market insight, is the fact that there is a great deal of similarity on the PH market's behavior in comparison with the US DOW Thursday trading that followed a pattern not only in price swings but the manner of which the US trading session did. And this started off with a huge decline in the early trading hours near a triple digit decline on both markets that ended the session nearly flat. This was caused by the liquidation / market settlements of long positions from the previous rally that actually lightened the market from speculative trades.
Click to continue
MEGATRADE101.com - The Business of Making the Right Trading Decisions Beyond Charting & Price Action Analysis
Advice to checkout our information above on how to have the ability to handle market selloff or major correction: Copy & paste on your browser https://megatrade101.blogspot.com/p/have-ability-to-handle-market.html
ReplyDeleteThe PSEI 4.13% is still trailing behind global stocks even among its neighbors with China 8.55% and India leading the Asian Pacific Region with 12.69%. Note: Given the right conditions the PSEI has some room for improvement.
ReplyDelete