After weeks of a boring state in the Philippine markets, seems like select stocks are in a good accumulation phase. Market in general is not strong yet, but we may find some potential stocks to start buying in.
Philippine Market (PSE Index) - Cautiously Buy
A week has passed and it's still within the downtrend channel trying to break free. Possible mean reversion strategy, but I'll just wait it out and buy on strength.
Watchlist
- CEB (Cebu Pacific) - has already crossed MACD zero but might still be in consolidation. Probably a good chance to accumulate for now.
TEL (Philippine Long Distance Telephone) - already crossed MACD zero; above the kumo. Similar to above, might consolidate further but opportunity to accumulate.
MBT (Metro Bank)- Very enticing chart. A little above MACD zero and above the 200 MA. Cash dividends coming in one month. Flirting to break the kumo. I may need to study more on its fundamentals but I've seen the bank earn some awards recently.
Cryptocurrency
Hive
Trading within a safe range (near 200 MA). I have yet to buy more Hive for my monthly power-ups. Chart looks encouraging as there are no drastic movements but looking like some accumulation phase. Bitcoin on the other hand is a bit boring these days.
BNB
Still unsure whether to sell my BNB holdings or just continue holding. It did bounce back to a comfortable level; almost could have sold it earlier.
This is not financial advise. I use this as my trading journal/notes for ongoing reference for the succeeding week. The above technical analysis (charts) are just used for guidance while studying market behavior and trying my hand on market timing. Please Do Your Own Research (DYOR).
Charts from Investagrams
Image via Dall E
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