PSEi Outlook for Apr. 25 – 29, 2011

Posted by Bonner Dytoc
Monday, April 25, 2011 9:04

The Philippine Stock Exchange Index (PSEi) looked directionless last week but despite the uncertainty in the market, we still managed to pull off another positive result.  We expected that the past week would’ve resulted in low liquidity due to most people being away for Holy Week but it turns out that there were still enough interested people trading to contribute to a Holy Week that caught the attention of many people.

The moving averages continue racing higher to cross above the 100-day moving average to confirm the bullish trend.  We already know that the market is bullish as the index is staying above the moving averages and staying inside the upward channel.  The MACD also confirms the bullishness as the two lines continue climbing higher from the zero line.

With the expectation that most people would be back from their vacations, we are foreseeing that more activity would be coming in this week, especially in issues that were catching a lot of people’s attention

Recommendation: Buy
Support: 4140

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