PSEi Outlook for Apr. 23, 2012
The Philippine Stock Exchange Index (PSEi) has created a new all time high at 5219 but it has backed off from that area to close the week at 5156. The good news is that the uptrend continues.
The 50-day moving average is currently at 4987, supporting the uptrend of the index. The 100 & 200MA are now racing on the same direction as the 50MA. The MACD is still going somewhat sideways but the fast line has crossed above the slow line to give it some semblance of bullishness.
Since the PSEi is still trending upward and it has made a new all time high, we are now counting down to where our target is waiting. There are still opportunities that await us while the index trends higher.
Recommendation: Buy
Support: 5093
