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, May 6, 2008

PSEi 5/6/08 PHILIPPINE STOCK MARKET ANALYSIS

PRICE AND TURNOVER
Close: 2,727.70
Change: -25.23(-0.92%)
Value: 4,574,900,000

MARKET BREADTH
Net Advancing Issues: -43
Net Up Volume: 3,474,570
Net Foreign Buying: 163,506,587

TECHNICAL ANALYSIS
Major consolidation * Intermediate downtrend * Short term downtrend * Support 2500 * Resistance 3050 * Price objective 2500 * The index closes fractionally lower on a downtick accompanied by above average volume * For the past 3 days, it is attempting to find support * The declining trends remain valid.

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