It's been quite an interesting week to begin with the PH Stock market manage to lift its bench mark for three (3) consecutive days of tepid double digit increase near the recent high at 8005; just to see it drift lower thereafter. With the Holding sector and Financial taking the lead on the decline where much of the block sales have been made twice this week alone prior to the opening bell.
Two consecutive days starting from Thursday and Friday saw the PSEI declined by as much as 100 - 200 points from its high that Friday's low on July 21 marked at 7849 compared with the previous week's low at 7837. Which a lot of analyst have already claimed that the PSEI again is back into negative territory. Although, the market traded heavily during its decline that was actually influenced by Metropolitan Bank's report that one of the bank's executives was taken into custody. And this led to a spiral decline of MBT shares at the 86.40 low from last week's high at 95.70. And GTCAPITAL likewise declining towards 1188.00 session low to close at 1195.00 These two stocks were not part of the last minute rally of the PSEI.
Summary of how prices moved on the PSEI and its Sector Index
Isolated as it may seem to be the contagion effect took place and stayed on the levels before market intervention. Thereafter, the PSEI had recovered well into positive territory with all sectors in the black with a net change of +85.39 pts. a 1.08% change with Mining at 12991.06, +107.66 an 0.84% increase. While Holdings at 7927.93 +76.54 up by 0 .98% and Property at 3790.37 +62.15, equal to a 1.67% both had a run up that contributed respectively to the PSEI reversing by a wide pullback into the closing pm session.
The opening & closing prices for the PH Stock Market at the end of the trading week and the month shall dictate the next directional trend. Although, the mix sentiment in the market place may well place other retail investors on the sideline while speculative positions from retail traders would do otherwise, let's see who gets to blink first!
ReplyDeletePrice Pullbacks do occur in the financial markets, either in stocks or currency trading. Knowing when such an event can happen depends on the law of probability in certain market conditions. Some analyst often times define on a technical chart formation as a pivotal price point. But its knowing when and how to be a step ahead before it occurs is what is important.
ReplyDeleteThe LMR or LAST MINUTE RALLY is one of the most hardest to take advantage; as prices move in a rapid fashion. Timing the market before this happens is more of a skill drawn from experience plus being at the right position at the time and instrument.
ReplyDeletePSEI Finally Breaks 8000 as of today 7.26.17 With Holdings & Property leading the pack while Financials trailing behind Mining in percentage change as of this writing. Positive sentiments recover from previous week's uncertainty in the financial sector. Patience and an Effective Market analysis still prevail beyond previous market misdirection and pullback conditions.
ReplyDeletehttps://www.tradingview.com/x/yzQ2xs0L