12 Jan 2022 / by Regina Capital Development Corporation
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Our Partner Broker’s Analysis and Opinion
| Stock Code | Company | Broker | Opinion Issued on | Support | Resistance |
|---|---|---|---|---|---|
| GLO | Globe Telecom Inc. | Regina Capital Development Corp. | 12 Jan 2022 | 3200 / 3125 / 2980 | 3400 / 3600 |
While GLO’s sideways consolidation range is still holding, it is currently trading at the lower band of the range — which typically indicates an entry point for possible positioning.
Indicators are all still heavy on the selling pressure, but the DMIs are showing an evident lack of momentum.
With this in mind, we think the chances of GLO breaking down past its P3,200.00 support are extremely low. But if it does venture below this level, an eventual bounce would likely occur closer to GLO’s 100-d MA of P3,125.00.
Our Partner Broker’s Recommendation
Buy.
Weekly target: P3,300.00.
Support: P3,200.00 / 3,125.00 / 2,980.00.
Resistance: P3,400.00 / 3,600.00.
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