Philippine Stock Exchange Inc (PSE:PS) may test 7,800 level this week
The benchmark stock market index may bounce off the 7,500 support level and test the resistance at 7,800 this week.
Traders said this is what has been happening the last six weeks.
The index must break the heavy resistance at 7,900 before we can confirm this reversal. If we don’t start to see a pickup in volume, the Philippine Stock Exchange index may continue in this congestion area indefinitely.
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
The projected upper bound is: 210.67.
The projected lower bound is: 197.61.
The projected closing price is: 204.14.
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 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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 21.2122. This is not an overbought or oversold reading. The last signal was a sell 4 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 33.64. 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 9 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 -100. This is not a topping or bottoming area. The last signal was a buy 12 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 11 period(s) ago.
Rex Takasugi – TD Profile
PHIL STK EXCH closed down -0.400 at 204.800. Volume was 65% below average (consolidating) and Bollinger Bands were 44% narrower than normal.
Open High Low Close Volume___
205.200 205.200 204.000 204.800 3,870
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 206.76 216.52 232.34
Volatility: 15 19 18
Volume: 1,100 4,214 11,476
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.
PHIL STK EXCH is currently 11.9% 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 55 periods.
Latest posts by HEFFX Australia (see all)
- Earnings Estimates Moving Higher for Netflix, Inc. (NASDAQ:NFLX) – Time to Buy? - February 21, 2020
- Amazon.com, Inc. (NASDAQ:AMZN) stock looks like it has only just begun to flex its muscle - February 21, 2020
- Dow Jones Industrial Average (.DJI) drops 300 pts pulled by Microsoft, Apple - February 21, 2020