MIDCAP-Philippine Long Distance Tel could reverse-technicals
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Shares of Philippine Long Distance Telephone Co (PLDT) that fell sharply since mid-September could reverse, technical charts suggest.
The stock faces support at its 50-day exponential moving average.
It formed a hammer candlestick pattern on Wednesday, which is a bullish reversal pattern.
The stochastics %k line has cut above the %d line in the oversold region, which is a positive sign.
The stock is down 1.3 percent over the past week, while the broader index is up 1.4 percent in the same period.
(Reporting By Patturaja Murugaboopathy; Editing by Gopakumar Warrier)
Keywords: MIDCAP PLDT/