Price Action & Trend Context
From its 2025 low at ₱1,067.00, PLDT (TEL) rebounded by slightly over 30%, closing at ₱1,397.00 on February 6, 2026.
TEL regained its bullish long-term structure on November 13, 2025, when price moved back above its 200-day EMA, and it has remained above this level since. On a short-term basis, price also held above the 9-day EMA throughout the first trading week of February, reflecting near-term strength.
Key Resistance & Support Levels
Despite the recovery, TEL repeatedly failed to break above its immediate resistance at ₱1,404.00, a level aligned with the 61.8% Fibonacci retracement.
The immediate support is located at ₱1,277.00, confluent with the 38.2% Fibonacci retracement.
A break below ₱1,341.00 (the 50% Fibonacci retracement), accompanied by red volume approaching or exceeding the 10-day volume average, would increase the likelihood of a re-test of the deeper support at ₱1,277.00.
On the upside, a decisive breakout above the ₱1,404.00 resistance zone would shift focus to the next immediate resistance at ₱1,494.00, corresponding to the 78.6% Fibonacci retracement.
Volume Behavior
Trading activity remained elevated, with daily volume over the past six sessions exceeding 100% of both the prevailing 10-day and 50-day volume averages.
Dominant Range & VWAP Analysis
TEL closed February 6, 2026 with a BEARISH Dominant Range Index, as the most actively traded prices—based on both volume and transaction count—were clustered closer to the intraday low than the intraday high.
In addition, the closing price failed to settle above the VWAP, reinforcing the near-term hesitation at current levels.
Dominant Range Index: BEARISH
Last Price: ₱1,397.00
Dominant Range: ₱1,390.00 – ₱1,405.00
VWAP: ₱1,398.4884
Market Sentiment Index
The BEARISH Market Sentiment Index as of end-of-day February 6, 2026 further highlights indecision near the ₱1,404.00 resistance.
The aggregate selling average exceeded the aggregate buying average, while only a minority of participants displayed a full buying bias. These conditions suggest a lack of conviction to sustain a move above resistance.
Market Sentiment Index: BEARISH
17 of 36 brokers (47.22%) posted a positive Aggregate Net Amount
18 of 36 brokers (50.00%) recorded a higher Per-Broker Buying Average than Selling Average
Aggregate Buying Average: ₱1,398.83171
Aggregate Selling Average: ₱1,400.88055
9 of 36 brokers (25.00%) registered 100% Per-Broker BUYING activity
8 of 36 brokers (22.22%) registered 100% Per-Broker SELLING activity
Recommendation / Positioning Framework
At current levels, TEL remains constructive on a long-term basis, but price acceptance above the ₱1,404.00 resistance has yet to be confirmed.
A sustained hold above ₱1,404.00, supported by buy-side dominance and price holding above VWAP, would indicate stronger acceptance at higher levels and justify a reassessment of positioning toward upper resistance zones.
Conversely, a failure to hold above ₱1,341.00, particularly if accompanied by expanding red volume relative to the 10-day average, would increase the likelihood of a re-test of the ₱1,277.00 support area.
While price remains between ₱1,341.00 and ₱1,404.00, the market is still deciding direction. In this range, protecting existing gains becomes more important than initiating new exposure. An upward adjustment of trailing stops may be considered to secure unrealized profits, while allowing room for confirmation should price eventually resolve beyond resistance.
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