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 8, 2008

PSEi 5/8/08 PHILIPPINE STOCK MARKET TECHNICAL ANALYSIS

PRICE AND TURNOVER
Close: 2,760.62
Change: +21.19(+0.77%)
Value: 2,940,728,000

MARKET BREADTH
Net Advancing Issues: 6
Net Up Volume: 1,109,663,870
Net Foreign Buying: -405,382,471

TECHNICAL ANALYSIS
The PSEi continues to look for support * It is moving sideways within the minor downtrend * Expect the index to move in the general direction of the short term trendline * Primary consolidation * Secondary downtrend * Minor downtrend * Support 2500 * Resistance 3050 * Double top on the weekly chart - TP 11800 * Near term trend objective 2500.

No comments:

Post a Comment