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, September 18, 2008

PSEi 9/18/08

PRICE AND TURNOVER
Close: 2,352.37
Change: -104.63 -4.26%
Value: 2,159,785,000

MARKET BREADTH
Net Advancing Issues: -103
Net Up Volume: -1,328,369,100
Net Foreign Buying: -265,600,232

TRENDS
* PRIMARY DOWNTREND | Corrective wave | Prior support 2289 | Prior resistance 3896
* INTERMEDIATE DOWNTREND | Broken trendline | Corrective wave | Prior support 2289 | Prior resistance 2903
* SHORT TERM DOWNTREND | Prior support 2632-BROKEN | Prior resistance 2755

CHART WATCH
The next critical level to watch is 2289 which acts as conincident support for the primary and intermediate trends. If this fails, we could be in for a bigger downside move.

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