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OUR VIEW

Trade cautiously. Long term investors may accumulate shares if the market holds its position at the 6,400 level. The local bourse has already been rallying for three straight days, buoyed by the robust Q2 corporate earnings and foreign fund inflows. While earnings optimism may still give sentiment a boost, investors are still expected to watch out for the Philippines’ July inflation to be released this Friday. An inflation print higher than the BSP’s 5.6% – 6.4% range forecast may lead to a decline, while a slowdown from June’s 6.1% may further strengthen the market’s upward momentum.

Chartwise, the market’s support is now seen at 6,400. Resistance is seen at 6,600

STOCK RECOMMENDATION

For the full research, kindly go here: Daily Notes Aug 5

OUR VIEW

Trade Cautiously. As the main index breaks out from the 6,400 levels, it could be sustained as the net value turnover for the past few days continues to rise. However, the market may take cues from Wall Street overnight taking into consideration the tension between the US and China as U.S. House Speaker Nancy Pelosi visits Taiwan. Investors are also awaiting the inflation data for the month of July which will be released this Friday.

Chart wise, the index is expected to sustain above the 6,400 level with its next resistance at the 6,600 level.

STOCK RECOMMENDATION

For the full research, kindly go here: Daily Notes Aug 4

OUR VIEW

Trade cautiously as the local market’s sideways movement could continue this Wednesday. The expectation of an overall good Q2/1H corporate results based on what has been released so far may spur positive sentiment in the market. Investors are expected to remain wary over the Philippines’ July inflation which is set to be released on Friday. The geopolitical tensions between US and China caused by US House of Representatives Speaker Nancy Pelosi’s visit to Taiwan may also weigh on the local bourse.

Chartwise, the local market may test its immediate resistance at 6,400. Its immediate support is seen at its 20-day exponential moving average.

STOCK RECOMMENDATION

For the full research, kindly go here: Daily Notes Aug 3

OUR VIEW

Trade cautiously. This Tuesday, the local bourse could move sideways with a downward bias as investors digest the Philippines’ latest manufacturing data while waiting for further cues. The slowdown in the Philippines’ manufacturing expansion with the S&P Global Philippines Manufacturing PMI declining from June’s 53.8 to July’s 50.8 may weigh on sentiment. Investors are also expected to wait for the upcoming corporate earnings, as well as the country’s inflation data to be released this Friday.

Chartwise, the local market has so far managed to keep its ground above its 20-day exponential moving average which is currently serving as its immediate support. Moving forward, this line could get tested further. Resistance on the other hand is still at 6,400.

STOCK RECOMMENDATION

For the full research, kindly go here: Daily Notes Aug 2

OUR VIEW

With last week’s rebound, the local market is nearing its resistance level which is at 6,400. While room for bargain hunting can still be seen as a lot of stocks are still at attractive levels, lingering economic concerns may weigh on sentiment. In the US, worries over recession risks brought by the country’s decline in GDP for two consecutive quarters may cause negative spillovers that could weigh on the local bourse. Onshore, the detection of the first Monkeypox case in the Philippines may also weigh on sentiment. Trading is still expected to be tepid as investors await for catalysts, primarily the country’s inflation data which is set to be released this coming Friday. Aside from this, the Ghost Month period which has already started, may also temper trading activities in the market.

Chartwise, the local market’s support range can be seen at 6,100 – 6,150. Its immediate resistance is at the 6,400 level.

STOCK RECOMMENDATION

For the full research, kindly go here: Weekly Notes August 01, 2022

OUR VIEW

Sell Positions. The market may start to decline after a 3-day rally as some investors may start to book some gains. Trading is also to slow down as the “ghost month” has started. Historically, trading activities decline during ghost month due to the majority of investors staying off the market. However, since market participation is weak, it could also be an opportunity to accumulate but consider the company’s fundamentals and the economic narrative before participating.

Offshore, Global markets may also be affected by the commencement of the ghost month as market participation is expected to weaken.

STOCK RECOMMENDATION

For the full research, kindly go here: Daily Notes July 29

OUR VIEW

Trade cautiously. The local market may be expected to move in a tight range as it is still consolidating between the 6,100 to 6,300 range. Sustained bargain hunting may continue to push the market upward. However, Market participation may remain weak as many investors are staying on the sidelines ahead of the Federal Reserve’s policy meeting.

Offshore, US market may decline as investors may book gains ahead of the Federal Reserve’s policy meeting. Neighboring markets could be mixed as bets on the policy rate hike may vary.

STOCK RECOMMENDATION

For the full research, kindly go here: Daily Notes July 28

OUR VIEW

Trade Cautiously. The local market may still move sideways as investors are still waiting for fresh catalysts to move the market. Given the weak market participation, the market may still be consolidating in the 6,100 to 6,300 range. On the upside, the market is currently nearing support levels which presents bargain hunting opportunities. The market may also gain momentum from last Tuesday’s positive closing.

Offshore, investors are bracing for the Federal Reserve’s policy meeting as it would affect global economies. Neighboring countries may remain mixed due to varied investor sentiment

STOCK RECOMMENDATION

For the full research, kindly go here: Daily Notes July 27

OUR VIEW

Hunt for bargains. The market’s decline last Monday may present bargain hunting opportunities as it closed near the support area of the main index. The local market is expected to move sideways but be wary as investors brace for the Federal Reserve’s policy meeting. Trading activities may remain weak as ongoing global headwinds keep many investors on the sidelines.

Offshore, Asian markets may be mixed ahead of a big week in the US. Most investors are in a wait-and-see mode as they anticipate the Federal Reserve’s meeting. The threat of the monkeypox virus may also affect the negative sentiment as it is already declared a global health emergency.

STOCK RECOMMENDATION

For the full research, kindly go here: Daily Notes July 26