Technical Analysis MER

Stock: MER
Company: Manila Electric Company
Support: 286.00 / 281.00
Resistance: 315.00 / 330.00


Rebounded near the 78.6% fibonacci retracement level. The rebound resulted in a bullish engulfing pattern that may indicate a trend reversal.

  • Bullish engulfing pattern
  • Strong rebound and momentum

Recommendation

Trading buy

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