Philippine Market (PSE Index) - Cautiously Buy
Downtrend channel still holds for 4 months. Could it be this week wherein it finally breaks free? Or maybe another week more to reach oversold region. I would probably buy when oversold (RSI). One stock I'm looking at is AREIT. It has recently been included in the PSE index and as a REIT (Real Estate Investment Trust), it gives quarterly dividends.
US Market (S&P500) - Still due for a correction
Wow, look how stubborn the US market is. Still clinging at the resistance levels
Cryptocurrency Market (BTC, XRP, HIVE)
BTC -- Trade the range
Channel is held since November 2024. Latest candlesticks show that there will be another attempt to break support.
XRP -- Hold
Broke the channel heading downwards so now setting a new support line. Reminder to myself that I will sell only if it hits 200 EMA.
HIVE -- Bearish
Hive is such a disappointment. The gains that was acquired since the start of the Hive futures contracts has easily been diminished within a month. It now has crossed the 200 EMA as well.
I do like having lower Hive prices when I buy (usually mid-month); however, showing signs of a bear is a bit concerning. Hope it gets to bounce back again soon.
This is not financial advise. I use this as my trading journal/notes for ongoing reference for the succeeding week. The above technical analysis (charts) are just used for guidance while studying market behavior and trying my hand on market timing. Please Do Your Own Research (DYOR).
*Charts from Investagrams
*AI generated image via DALL-E