However, Regina Capital Development Corporation Managing Director Luis Limlingan noted that, “Resistance is heavy at 8,000, market will probably still be making adjustments post FTSE rebalancing.”
He expects that, last week’s close at 7,885.23 continues to highlight the market to consolidate within the 7,700 to 8,000 levels in the near-term. “We continue to like BPI because it is poised to take advantage of the country’s healthy economic growth on the back of its strong and highly liquid balance sheet as well as its large branch network,” the online brokerage firm said.
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