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 4, 2008

PSEi 3/4/08 TECHNICAL ANALYSIS


PRICE AND TURNOVER
Close: 3,108.72
Change: +28.73 (+0.93%)
Value: 2,181,754,000

MARKET BREADTH
Net adv/dec issues: +24
Net up/down volume: +349,321,290
Net foreign buying: +19,083,125

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

OUTLOOK
The market defies yesterday's bearish sentiments and close higher on an uptick though noticeably inside yesterday's trading range. It remains below the trendline resistance and offers no signficant alert or signal on the intermediate and short term time frame.

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