PRICE AND TURNOVER
Close: 3,116.84
Change: +24.19 +0.78%
Value: 2,441,159,000
MARKET BREADTH
Net adv/dec issues: -25
Net up/down volume: -114,639,120
Net foreign buying: +66,220,343
TECHNICALS
Intermediate and short term downtrend
Immediate Support: 3,000 Resistance: 3,300
OUTLOOK
The PSEi closes higher on an uptick. A penetrating close beyond the downtrend line occurs today. This is usually an early signal of an oncoming trend change. It's not a signal to buy though, just an alert to take a closer look at the next few days to see if a confirmation signal is forthcoming. Imposing a 3%, 3day filter on this breakout will be helpful.
Close: 3,116.84
Change: +24.19 +0.78%
Value: 2,441,159,000
MARKET BREADTH
Net adv/dec issues: -25
Net up/down volume: -114,639,120
Net foreign buying: +66,220,343
TECHNICALS
Intermediate and short term downtrend
Immediate Support: 3,000 Resistance: 3,300
OUTLOOK
The PSEi closes higher on an uptick. A penetrating close beyond the downtrend line occurs today. This is usually an early signal of an oncoming trend change. It's not a signal to buy though, just an alert to take a closer look at the next few days to see if a confirmation signal is forthcoming. Imposing a 3%, 3day filter on this breakout will be helpful.
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