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).

Thursday, May 15, 2008

PSEi 5/15/08 PHILIPPINE STOCK MARKET TECHNICAL ANALYSIS

*** PRICE AND TURNOVER
Close: 2,878.26
Change: +15.73(0.55%)
Value: 2,751,832,000

*** MARKET BREADTH
Net Advancing Issues: +28
Net Up Volume: +359,975,850
Net Foreign Buying: -26,665,064

*** TECHNICAL ANALYSIS
The index closes fractionally higher. Today's inside day range does not constitute a reversal confirmation to yesterday's shooting star candle pattern but certainly depicts a slowdown of the upswing. * MAJOR CONSOLIDATION * INTERMEDIATE DOWNTREND * MINOR DOWNTREND : Corrective wave | Prior Support 2712 | Prior Resistance 2956 | Broken trendline |

No comments:

Post a Comment