This blog is committed to the serious study and valid understanding of technical analysis and its objective application to stock selection, risk management and execution primarily in the context of trading stocks listed in the Philippine Stock Exchange (PSE).

Monday, February 18, 2008

PSEi 2/18/08


PRICE AND TURNOVER
Close:3,163.25
Change:-19.60pts (-0.62%)
Value: 1,837,178,000

MARKET BREADTH
Net adv/dec issues: -1
Net up/down volume: -83,504,290
Net foreign buying: -64,565,436

OUTLOOK
The PSEi is on its third successive day of weakness, closing lower on a downtick on each occasion accompanied by noticeably thin turnover. The market indicators are mixed with the advancing and declining isssues ending the day even while the volume breadth and net foreign selling favor today's sell down. The short term trend is aligned with the intermeditate downtrend. A trend is valid until proven otherwise so presume any rally in the near future to be a temporary correction to the downtrend.

No comments:

Post a Comment