PSEi: The Week Ahead, Jan. 25, 2015

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The Philippine Stock Exchange Index (symbol: PSEi) continues to forge a positive trail for January, as it  reached and closed right at a new record high.

The PSE index finished strong on Friday as it closed at 7,548.93, with a 1.79 percent gain or 132.62 points. There were 114 winners, 68 losers, and 40 issues unchanged.

Philippine Stock Exchange index_PSEi Daily chart, January 23, 2015

PSEi Daily chart, January 23, 2015 c/o BBG

Key Areas List

The Key Areas list of the PSE index has been revised slightly.

Key areas to watch:
Resistance: 8,000, 8,500, 9,000
Support: 7,400-7,500, 6,800-7,000, 6,500

New reference chart: http://www.tradingphoenix.net/2015/01/05/psei-in-2015-the-year-ahead/

The Script

January continues to impress as the PSE index has climbed to another record high. Impressive, but with one more week to go, we need to see a weekly and monthly close above 7,500 to consider this a legit move through this level.

The year is still very young, so I would not be surprised to see downside moves back through 7,500 in the coming 3-7 weeks.

Where do you think the index will head to this coming week? Share your thoughts below and Like our Facebook page as well!

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