PSEi: The Week Ahead, July 6

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Buyers took home the bacon for a second week as the Philippine Stock Exchange Index (symbol: PSEi) moved past the 6,900 border with relative ease this week.

Philippine Stock Exchange index_PSEi Daily chart, July 4, 2014

PSEi Daily chart, July 4, 2014

The 0.91 percent gain on Friday contributed to PSEi’s 1.76 percent weekly advance to new 1-year highs.

Positive June close: secured

Despite a (very marginal) red-day closing on June 30, the month of June ended strong and well above our line in the sand at 6,800. This gave us the desired positive weekly and monthly close we’ve been expecting for quite some time.

Key Areas List

The Key Areas list remains almost the same but the PSE index is now closing in on the resistance levels.

Key areas to watch:
Resistance: 7,000, 7,200-7,400
Support: 6,800, 6,500-6,600

The Script

This second week of July, I would like to see bulls fortify their twin support camps at 6,800 and 6,900 and keep marching toward the 7,000 level. They should remain careful while aiming for another positive month!

Where do you think the index will head to this coming week? Share your thoughts below!

 

The ScriptWikipedia: The Script are an Irish rock band from Dublin formed in 2001. The band consists of lead vocalist/pianist Danny O’Donoghue, vocalist/guitarist Mark Sheehan, and drummer Glen Power. Based in London after signing to Sony Label Group imprint Phonogenic, the band released their eponymous debut album in August 2008, featuring the hit songs “The Man Who Can’t Be Moved” and “Breakeven”. The album peaked at number one in Ireland and the UK. Their second album, Science & Faith, was released in September 2010, and contains the hit songs “For the First Time” and “Nothing”. The album peaked at number one in Ireland and the UK, and number three on the US Billboard 200. Their third album #3 peaked at number one in Ireland and the UK, containing the hit song Hall of Fame in collaboration with Hip Hop/R&B artist will.i.am.

1 Comment

  1. Huminto ang PSE index sa 6,900. Sana mag stay pah para makabili pa ako bagoh siya lumarga!

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