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 18, 2008

PSEi 3/18/08 PHILIPPINE STOCK MARKET ANALYSIS

The index is on its fifth consecutive day of decline. It closes on a downtick with below average turnover. The negative breadth indicators characterize today's market decline as one which is accross the board. Cumulative NFS continue to set YTD highs.

PRICE AND TURNOVER
Close: 2,777.42
Change: -16.26 (-0.58%)
Value: 1,665,564,000

MARKET BREADTH
AdvDec issues: -34
UpDown volume: -135,006,700
NFB: -196,486,696

TECHNICAL ANALYSIS
Major consolidation * Intermediate downtrend * Short term downtrend * Support: 2,000 * Resistance: 3,300 * Near term TP: 2,700 * Med term TP: 2,200

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