Ahead of the final week of November, the Philippine Stock Exchange Index (symbol: PSEi) still showed a lack of decisive overall direction although bulls managed to keep the ball in their control.
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The PSE Index closed Friday at 7,276.18, up 7.23 points or 0.10 percent. There were 91 advancers and 82 decliners, with 51 stocks unchanged.
Key Areas List
The Key Areas list of the PSE index remains steady.
Key areas to watch:
Support: 7,200, 7,000, 6800-6900
PSE Index Reference charts:
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Going into the fourth week of November, the index managed to stay afloat above the 7,250, following directionless trading in the previous week.
Since the PSE Index eked out a small gain, I would like to see bulls snatch control of the 7,300-7,400 area. The ideal weekly and monthly close is between 7,350 and 7,400 — or higher (creating a new high). To achieve this, we need to see increased participation from bulls. “Slowly but surely” seems to be their mantra for November. We’ll see by month-end.
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