News / Philippine Stock Market
Normally when we want to see how the market is faring, not only do we look at the PSEi, but we also examine PLDT.
Unlike its US counterpart PHI, which has been going sideways with an upward bias, TEL has just been moving sideways. After its rapid rise from August to October, it has just been trendless so far. We’re not saying that this is bad, it’s just that when the price is caught in an area of consolidation, the trend is not clear. So we also don’t know if TEL will continue to rise or not since the buyers and sellers are at a stalemate. In short, buying inside this area is an area of chaos.
However, TEL is still considered bullish in general. Prices are still above the three moving average, and they are all in the bullish firing order. The MACD is also still bullish since it is oscillating above the zero line.
But I think this is not the time to buy. We wait when the trend is clearer before we make a move. 
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