Philippine Stock Exchange Inc (PSE:PS) Index Worth Watching

Philippine Stock Exchange Inc (PSE:PS) Index Worth Watching

Philippine Stock Exchange Inc (PSE:PS) Index Worth Watching

Philippine Stock Exchange is expected be sluggish during the three-day trading week with at the Philippine Stock investors looking overseas for guidances.

The local financial markets will be closed on Tuesday to celebrate the country’s Independence Day and on Friday in observance of the end of Ramadan.

Investors overseas will be looking for cues from several US financial data that will be released this week, as well as the the outcome of the G7 summit held over the weekend.

Local investors, meanwhile, will be awaiting the release of the latest data on foreign exchange remittances.

“Most of the technical indicators are slightly bullish. If buying appetite continues to strengthen, the index could maintain its position above the 50-day moving average.”

Overall, the bias in prices is: Downwards.

Note: this chart shows extraordinary price action to the downside.

The projected upper bound is: 212.69.

The projected lower bound is: 199.63.

The projected closing price is: 206.16.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 0 white candles and 6 black candles for a net of 6 black candles. During the past 50 bars, there have been 4 white candles and 29 black candles for a net of 25 black candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 58.5367. This is not an overbought or oversold reading. The last signal was a sell 1 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 38.14. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 6 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 52. This is not a topping or bottoming area. The last signal was a buy 9 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 8 period(s) ago.

Rex Takasugi – TD Profile

PHIL STK EXCH closed down -0.200 at 206.800. Volume was 94% below average (consolidating) and Bollinger Bands were 22% narrower than normal.

Open High Low Close Volume___
207.000 207.000 206.800 206.800 630

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 206.38 218.48 232.81
Volatility: 15 19 18
Volume: 1,180 4,276 11,556

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

PHIL STK EXCH is currently 11.2% below its 200-period moving average and is in an downward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of PSE.PS at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on PSE.PS and have had this outlook for the last 52 periods.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

You must be logged in to post comments :  
CONNECT WITH