Last week we are all red with PSEi closing at 6084.84 breaking the 6100 level. This week we might see a continuation of bearish sentiment thus our stock picks for this week serves as a warning for those who are planning to get in or this may also help those who are already ipit and may look for exit points. These stocks are BEL, BLOOM, CPG, DNL and SM.
This week we will be looking at SMPH which continues to be bullish but have the tendency to retrace. A warning for MCP as it is forming a Rising Wedge and AGI which is currently facing a headwind. In addition, we have PIP which looks interesting after the weak bullish signal and lastly CPG which just rallied last week and still shows bullish sentiment.
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This week we see some stocks at support like DNL and MCP. LTG on the other hand had already broken from the triangle and Ichimoku indicators turned red. URC and MBT are blue chip stocks that may continue to rise.
This week our picks are the following: TA for its possible start of ascend. SECB, MCP, ALI to retrace so we can add more shares to our position. No need to be in a hurry. URC to stabilize its position.