News / Philippine Stock Market

PSEi Outlook For May 26 - 30, 2008 By Bonner Dytoc May 26, 2008

So close yet so far.  The PSEi tested the resistance area that we pointed out last week.  Like clockwork, the index also backed off from that area.

I believe it’s only a matter of time before the index turns around, despite what’s happening in the global markets.  The only sign that’s given to us that an imminent change in the trend is the bullish divergence being given to us by our MACD.

It may be a good time to load up on selected issues like the blue chips then a few second liners.  Other than those, don’t rush into anything else.  It’s still best to be prudent about your trading at this time.  Bearishness is still in the air.