Mar 24, 2025
Juan G. Barredo
Chief Technical Analyst
[email protected]
GLOBAL SCOREBOARD
Issue Current Change % YTD %
Philippines 6,267 (56.38) (0.89) (4.01)
Markets in Review Peso-$ 57.32 0.130 0.227 (1.31)
MSCI Phils 25.79 (0.12) (0.46) 3.04
PLDT US 22.82 (0.56) (2.40) 3.02
DJIA 41,985 32.0 0.08 (1.31)
SP500 5,668 4.67 0.08 (3.64)
Nasdaq 17,784 92.42 0.52 (7.91)
Germany 22,892 (107.47) (0.47) 14.98
Nikkei 37,677 (74.82) (0.20) (5.56)
Hong Kong 23,651 (568.95) (2.35) 17.90
China 3,365 (44.12) (1.29) 0.39
US 10-Yr Yield 4.250% 0.01 0.21 (7.06)
PH 10-Yr Yield 6.263% 0.010 0.16 1.43
Dollar Index 104.146 0.35 0.34 (4.00)
Gold 3,022.79 (2.98) (0.10) 15.19
Oil 68.37 0.06 0.09 (4.79)
GS Com Index 558.21 (1.55) (0.28) 1.56
PSEi slides as short-term resistance puts some
pressure on; Dollar rallies weighing on the Peso PHILIPPINE MOST ACTIVES
• The PSE Index (6,266) was down 56-pts (-0.89%) Stock Value Last Change %
but is still framed by a rally channel PLUS 2694-M 36.60 -1.80 -4.69%
RCR 1380-M 6.43 -0.17 -2.58%
• We see the bounds of such a channel between
ICT 903-M 371 -3.00 -0.80%
6,100 and 6,430-6,560 – so look to range trade this
BDO 607-M 160.30 -0.70 -0.43%
while these bands are unbroken
SM 509-M 800 -10.00 -1.23%
BPI 451-M 134.50 -0.70 -0.52%
• Moreover, do expect some selectivity and not see
broad movements yet… also expect that rallies JFC 425-M 238 -10.00 -4.03%
may be limited by resistance which could cap and AC 407-M 588 -16.00 -2.65%
press on selected stocks, some may be expected ALI 395-M 22.70 0.20 0.89%
to drive support tests SMPH 286-M 23.50 -0.90 -3.69%
• The US market rallied as did the Dollar but both
Note: All opinions and estimates constitute the judgment of COL’s Equity
are deemed to be making temporary oversold Research Dept as of the date of the report and are subject to change
rallies – a W-base would be preferred at this point without notice. The report is for informational purposes only and is not
intended as an offer or solicitation for purchase or sale of a security.
to sponsor more lasting rallies
Mar 24, 2025
Market Spotlight:
PSEi pushed back as resistance nears US Dollar
rallies; US market still in OS rally mode
• The PSEi reacted 56-pts (-0.89%), feeling some pressure after
its earlier recovery but it seems to be having a harder time
completing the rally within its recovery channel
• It is a must that its earlier low hold so as to create a higher-low
base that enables the rally to continue – allowing it to continue
to seek out next resistance [100-day EMA (6,415) or 200-day
(6,550)]
• Support is shown closer to 6,123-6,000 – which we hope would
not beak, to keep rally swing open
• We will likely see some mixed movements here but last Friday’s
action was not too good as key issues backed off to weigh the
index down
• Friday’s action saw the likes of SMPH, SM, AC, JFC and ICT
sliding quite notably – enough of which to show more threats
this week… so keep on your toes in case some lightening may
be needed if not already
• In the US, the 3 large indices managed to rally a little coming off
their recent lows… but these still look like oversold rallies and
are likely temporary – needy of a stronger base (retest)
• The Dollar managed to also show an oversold rally from its
103.22 base – weighing down the Peso to 57.32 (further rallies
from the Dollar may put pressure into some markets0
OS
Mar 24, 2025
US Market Review
$SPX 5,667
S&P500 Index +4 +0.08%
Stock Trend Sideways
Downtrend
Chart Formation Downtrend Line
Support 1 & 2 5,500 5,409
Resistance 1 & 2 5,702 5,741
Trading Action
The SP500 rallied a day after backing off
from resistance. This is seen at 5,702
(downtrend line and 200-day EMA) and is
also pressed down by its nearby 20-day OS Zone
EMA (5,741). Still in rally mode, it may have
to deal with such resistance and be subject
to more choppy action
EPHE $25.79
MSCI Philippines Index -0.12 -0.46%
Stock Trend Uptrend
Chart Formation Uptrend Line
Support 1 & 2 25.00 23.72
Resistance 1 & 2 26.13 27.06
Trading Action
EPHE skidded down, bumped down by
next resistance. Resistance is seen at
$26.13 (channel high) then at $27.06. If the
OB Zone
first holds, look to range trade the channel
bounds. A break over $26.13 is needed for
the rally to continue
PHI $22.82
PLDT US -0.56 -2.40%
Stock Trend Sideways
Uptrend
Sideways
Chart Formation Up Channel
Support 1 & 2 22.50 22.00
Resistance 1 & 2 24.30 25.30
Trading Action
PHI reacted heavily into the last few days
after failing its challenge to resistance. The
pullback has now cemented resistance at
24.30 – which now needs to be broken for OB Zone
the rally to continue. For now, a small
pattern may brew while support is tested
