Manila, Philippines – The Philippine Stock Exchange traded weaker today but was able to recover some lost ground at market close. The index closed at 7369.44, down by 29.74 points or 0.40 percent. The broader all share index is down by 0.27 percent.
Almost all of the sub-indices are down for the day except for the Industrial sub-index. It closed higher by 0.22 percent than yesterday’s figures.
On the other hand, the worst performing sub-index is the Holdings Sector, which is down by 0.76 percent.
Within the Holdings sector, SM was lower by 1.64 percent, to close at 901.0. MPI closed at 4.43, down by 3.06 percent.
JGS resumed its decline down by 0.95 percent, closing at 52.40. AEV closed at 52.40, lower by 0.95 percent.
Within the Industrial sector, URC closed at 128.70, higher by 2.14 percent. MER is also higher closing at 358.60, up 0.73 percent.
PCOR closed at 8.75, rising by 1.74 percent. CHP was also part of stocks to watch today as it rose up by 1.90 percent, to close at 3.22.
The most active stocks today include MBT with PHP 298.76 million in traded value. ALI made it to the top gainers with a traded value of PHP 152.18 million. SMPH closed at PHP 118.73 million in traded value.
Significant gainers for the day include ECP higher by 18.89 percent, FOOD by 14.06 percent, WIN by 8.57 percent, and MAH by 8.00 percent.
Significant losers include ORE down by 9.68 percent, TBGI by 7.41 percent, ION by 5.24 percent, and NI by 4.72 percent.
There were 82 advances and 90 declines, while 55 names remain unchanged. Value turnover totaled PHP 4.28 billion.
Department of Finance (DoF) announced that it is preparing to submit the tax reform on property valuation and passive income to the Congress. The office aims to present packages three and four by the end of the month.
The third package aims to provide a harmonized valuation scheme for national and local taxes. For real estate, the goal is to make sure that appraisal is done in an internationally-accepted manner. The condition also implies that this must be observed on a regular basis.
The government currently has two valuation methods for real property, namely: zonal values prepared by the BIR and the FMV (fair market value) used by local governments.
The new reform will supplement the unitary six percent estate and donor tax provided by the new TRAIN law.
Meanwhile, the fourth package aims to streamline financial investment taxes. Taxes on peso-denominated deposit interests will be from 20 percent to only 12 percent.
However, the tax rates for dollar deposits, dividends, investments, fixed income, and equity income will be leveled but at a higher rate.
The index closed lower today after trying to break above the 7,400 level last Friday. The price is still above the short term 15 EMA and 20 SMA.
Some resistance is still expected on the 50 SMA. MACD is bullish. RSI is also bullish but is at neutral levels. Support is estimated at 7184, while resistance is expected at 7482.
What Is the Importance of Knowing the Top 10 Players’ Sentiment?
You need to know the psychological average price of the top 10 brokers who have traded a specific stock within a specific time period.
You need to know the buying average of the top 10 brokers who have traded a specific stock within a specific time period.
You need to know the selling average of the top 10 brokers who have traded a specific stock within a specific time period.
You need to know how many brokers, out of all the brokers who have traded a specific stock within a specific time period, registered a 100% buying activity.
You need to know how many brokers, out of all the brokers who have traded a specific stock within a specific time period, registered a 100% selling activity.
The buying and selling averages of the top 10 brokers are a sneak preview of the range of their collective average price.
If you know the psychological average price of the top 10 brokers who have traded a stock, you can calculate in your mind how much more can they probably afford to hold, relative to their collective risk tolerance, should the stock’s price go south.
This is how we mentor our clients who subscribe to our Top Stock Picks.
Not only do we tell them which stocks to buy and when to sell, but we also update them every day about what happened to each stock that we recommend.
We save our customers a lot of time and heartache.
We show them our data-driven basis so they know what we know.
Our customers are not blind-followers but well-informed investors.
Our customers are better investors than most.
When you ask our customers why they buy the stocks that we recommend, you better get your pen and paper handy.
They will not answer, “Because I was told to buy it.”
They will narrate our data-driven basis like how we narrated the summary of our analysis in this article.
At Equilyst Analytics, our customers learn and earn.
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