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.
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/
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!