PSEi Outlook for Sept. 5 – 9, 2011
Friday, September 2, 2011 22:26
The Philippine Stock Exchange Index (PSEi) has been steady as it is still going sideways for the past month while its US counterpart has been on a roller coaster ride.
While the index ended the week at 4392, which is slightly higher than the 50-day moving average at 4383, this doesn’t necessarily mean that we are already on a bull run. For what it’s worth, the index is just going where the moving averages are. The MACD still indicates more consolidation but it could be gearing up for the next run that everyone is waiting for.
We have noticed that for the past few months, the mining stocks have already had a great run however only a few days ago, things look like they’ve turned around and the money has already shifted to other sectors like property and financials. Those may be the areas we should take a look at as they could be the next ones to push the index to higher levels.
Recommendation: Buy selectively
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