Philippine Stock Market Analysis - Midterm Elections and Slower than Expected Q1 GDP Growth
As of this posting, the Midterm elections for the Philippines has concluded. There will be a new set of local government officials and half of the Senate will be replaced. A peaceful election usually results to positive gains right after as it is deemed a success. However, its longterm effects are yet to unknown.
Midterm Elections
I just did a separate post on this mainly focusing on the Senatorial survey. During elections, typically consumption and spending increases as part of the campaigning. Media companies also used to gain a lot here; however, with the social media becoming a bigger platform, not sure if we will be seeing the same.
Lower Q1 GDP Growth (5.4%) Versus Expected (5.7%)
Domestic demand was a big factor in attaining more than 5% GDP growth while Investor growth has slowed due to the Global market uncertainties triggered by the Trump Tariffs. Philippines continues to negotiate further to reduce the tariffs as it may impact our exports.
Philippine Market (PSE Index)
Index levels resting right on the 200 SMA, can be interpreted either as a resistance or support. We shall see in the coming days. Chart-wise, momentum is looking good and upwards. Already above my 2 entry points this year. :)
There seems to be a handful of undervalued stocks; however, technically not yet good for entry, or it has already shot up. So, will still be waiting for more signals.
Crypto
Bitcoin
Will continue to ride the wave of BTC on this one. It's now reaching almost its previous high so we'll see if it will break over it. It needs more push though to make it a sustainable breakout.
Hive
With Hive just sitting over the kumo and right below 200 SMA, I think it's in a good place; hence, I'm willing to buy more Hive from sellers. Perhaps I need to think about an exit strategy once Hive reverses to bearish mode. Convert to HBD or swap.USDT? What do you think?
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).
- Stock Charts from Investagrams