Manila, Philippines

Technical Analysis: Metro Pacific (MPI) and Petron Corp (PCOR)

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Caveat emptor. Buyers beware. Read our caveat and disclaimers here.

PSE:MPI remains one of our all time favorites (PD: Very long on MPI, since 2014). Anyway, the last few days, the stock seems to be losing its momentum and may retest its resistance-turned support (5.50) soon. Series of indecisive candles plus waning volume. Stochastics also pointing down.

If Juan is long on MPI though, a longer time frame shows that the uptrend since June last year is still pretty much intact. Though it’s now approaching the higher end of its channel.

Also, just an update on our TA on PCOR a few days ago, the stock remains bullish maybe riding momentum of global oil prices. Surprised to see a cup with handle too (which I missed out the first time I posted on PCOR, learning curve). Anyway a cup with a handle is a bullish pattern so I hope we get to see more gains from PCOR.
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 PH Stock Market PSE: MPI PSE: PCOR

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