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).

Tuesday, March 11, 2008

PSEi 3/11/08 TECHNICAL ANALYSIS


PRICE AND TURNOVER
Close: 2,909.00
Change: +0.12 (0.00%)
Value: 3,401,899,000

MARKET BREADTH
Net adv/dec issues: -20
Net up/down volume: -324,987,380
Net foreign buying: -794,665,216

TECHNICALS
Intermediate and short term downtrend
Support: 3,000 Resistance: 3,300

OUTLOOK
The index closes flat after lackluster trading. The index continues to be in an intermediate and short term downtrend. The index remains below the 3,000 level after yesterday's completion of the double top in the major trend. The technical price objectives of 2,700 in the near term and 2,200 in the intermediate term continue to be reasonably likely. Net foreign selling YTD reaches a new high of P15.1 Billion.

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