News / Philippine Stock Market

PSEi Outlook For May 19 - 23, 2008 By Bonner Dytoc May 22, 2008

Is the worst really over?  We’d all like to think so.  Unfortunately we still haven’t received any kind of confirmation that the downtrend is over.

The good news is that the PSEi is trying to break out of that slump.  Currently, we need to break through the critical point at 2900.  Once that has been surpassed, the next level to look at would be 3030.

The MACD is still below the zero line to give us the confirmation of the bearishness being felt in the market.  However, it is also showing us a bullish divergence that could spell the end of the slump.

When should we expect this?  That is one of the hardest questions to answer.  Let’s take it one step at a time.  We expect the break of 2900 within the next 2 weeks if things stay the same.

Let’s keep our fingers crossed.