May 182017
The financial sector has been gaining ground recently. BDO, BPI and MBT doesn’t seem to have an opportunity for us to get in with a pull back, much as well UBP. Here are 4 banks that I’ve noticed violating the higher high and higher low movement in the near term. They are currently looking for a level of support from the market.
I plotted the fibonacci levels and possible role reversal support. Take your pick as to where you would want to start buying. You can always split your buying into different tranches to apply money and risk management.
EW – Eastwest Bank
PBB – Philippine Business Bank
PNB – Philippine National Bank
RCB- Rizal Commercial Bank
Hanson
Hanson is a Certified Securities Representative in the Philippine equities market. All posts herein are personal views and are not endorsed by any organization whatsoever. It is important that you practice due diligence in your trade plans. This website and its authors will not be held responsible nor liable to any of the reader's losses.