PSEi: The Week Ahead, July 13

FacebookPinterestPrintEmailShare this!

The Philippine Stock Exchange Index (symbol: PSEi) snatched its first weekly loss in three weeks. The index had a very bullish start to the week as it gunned for a break of the 7,000 level and hit a high of 7,016.71 on Monday. Selling kept bulls on their toes and the index eventually closed the week with a decline of 0.88 percent. The PSE index attracted a lot of buy-and-sell activity on Friday as depicted by the ultra-high volume (red ellipse).

We are currently preparing the newsletter and a Mid-Year Analysis (MYA). Be ready to subscribe soon, so you can get the Free MYA and all future articles directly in your inbox. Stay tuned! Meanwhile, you can get updates and post your comments on this page (click here)

Philippine Stock Exchange index_PSEi Daily chart, July 11, 2014

PSEi Daily chart, July 11, 2014

Key Areas List

The Key Areas list has been updated to reflect the recent price activity in the index.

Key areas to watch:
Resistance: 7,000, 7,200-7,400
Support: 6,800-6,900

The Script

The 6,900 level indeed held this week, but bears could just be warming up. Majority of bulls should be on defensive mode all throughout July. They don’t want to let all their effort go to waste!

For the coming week, I would like to see bulls prevent a break of the 6,900 level, while fortifying the secondary support at the 6,800 bull camp.

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

Submit a Comment

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

X

Forgot Password?

Join Us