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 25, 2008

PSEi 3/25/08 PHILIPPINE STOCK MARKET TECHNICAL ANALYSIS

PRICE AND TURNOVER
Close: 2,892.20
Change: +24.70(+0.86%)
Value: 3,251,015,000

MARKET BREADTH
AdvDec: +30
UpDnVol: +171,449,810
NFB: -213,742,256

TECHNICAL ANALYSIS
Primary consolidation * Secondary downtrend * Short term upswing * Support 2,700 * Prior resistance 3,300 * Potential resistance 3,000 * Double top on the weekly chart

OUTLOOK
The index advances for the 3rd consecutive day. The chart issues no new signals or alerts. The current trend implies that odds favor a short term reversal at or near the possible resistance levels of 3,000 and 3,300 or at the intermediate downtrendline.

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