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).

Wednesday, June 25, 2008

PSEi 6/25/09

PRICE AND TURNOVER
Close: 2,510.80
Change: 35.93(1.45%)
Value: 2,225,696,000

MARKET BREADTH
Net Advancing Issues: 38
Net Up Volume: 551,122,080
Net Foreign Buying: -191,760,755

TRENDS
* UNDEFINED PRIMARY TREND | Broken UP trendline | Corrective wave | Prior resistance 3896
* INTERMEDIATE DOWNTREND | Directional wave | Prior support 2510 | Prior resistance 2903
* SHORT TERM DOWNTREND | Directional wave | Prior support 2510-Broken| Prior resistance 2650

CHART WATCH
Today's ODR and bullish engulfing pattern show strong buying interest until the close, an alert for a potential new support level. A higher close and trading range tomorrow should confirm this and portend a correction rally.

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