Luis Limlingan, head of research at Regina Capital, the sizeable assist level at 7,550 on the PSEi will in all likelihood dictate the market’s direction, “probably for the rest of the month.”
“We should assume extra corrective strain, instead of a recovery, as both fashion course and technical momentum favors the bears. As such, we enormously recommend maintaining positions light at the same time as selling into recuperation for problems buying and selling in a strong downtrend,” Limlingan stated.
However, a few good buy searching might also set in, stated Summit Securities Inc. President Harry Liu
“I suppose, for the lengthy-term, we’re nevertheless very a whole lot fine. Because the [Duterte] management is attempting their high-quality to control everything. And with the sound economic basics, I assume we’ll do nicely. It’s just a brief downtrend as of now,” Liu said.
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