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).

Thursday, February 28, 2008

PSEi 2/28/08 TECHNICAL ANALYSIS


PRICE AND TURNOVER
Close:3,112.85
Change: +7.85 (+0.25%)
Value: 2,691,937,000

MARKET BREADTH
Net adv/dec issues: -7
Net up/down volume: -245,027,920
Net foreign buying: -145,163,432

OUTLOOK
Yesterday's rally spills over to today's opening but the day ends flat at 3,112.85. The buyers are overwhelmed by selling pressure with one hour remaining but regain control and prevent the index from closing lower. Today's trading offers no significant technical signal whatsoever. The index is on the third day of an upswing but the intermediate and short term trends continue to be in synch and declining.

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