The Philippine Stock Exchange Index (PSEi) is now range trading between 4580 & 4750.  This should be good for us as this could mean that it could settle at these levels first before it climbs to higher levels.

The index is way above the moving averages that we already sense the uptrend in effect even before the averages have a chance to set up to the bullish positions.  The MACD on the other hand, has been tracking the trend, which it has already erased the bearish divergence we saw before.  This now gives us more confidence in the trend of the PSEi as we continue to seek higher levels.

Clearly, this is now a good setup for us to start accumulating selected issues that can be good for the long haul, especially those which will affect the index.  It’s time for us to search for our jackpots!

Recommendation: Buy
Support: 4563