Philippine Stock Exchange Inc (PSE:PS) Technicals in Focus

Philippine Stock Exchange Inc (PSE:PS) Technicals in Focus

Philippine Stock Exchange Inc (PSE:PS) Technicals in Focus

Overall, the bias in prices is: Downwards.

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

By the way, prices are vulnerable to a correction towards 220.03.

The projected upper bound is: 210.43.

The projected lower bound is: 197.85.

The projected closing price is: 204.14.

Candlesticks

During the past 10 bars, there have been 1 white candles and 4 black candles for a net of 3 black candles. During the past 50 bars, there have been 6 white candles and 30 black candles for a net of 24 black candles.

A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend.

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 14.2857. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a buy 10 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 27.84. This is where it usually bottoms. The RSI usually forms tops and bottoms before the underlying security. 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 -69. This is not a topping or bottoming area. The last signal was a buy 0 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 sell 4 period(s) ago.

Rex Takasugi – TD Profile

PHIL STK EXCH closed up 1.000 at 205.000. Volume was 83% below average (consolidating) and Bollinger Bands were 39% wider than normal.

Open High Low Close Volume___
205.000 208.800 204.400 205.000 1,990

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

Moving Averages: 10-period 50-period 200-period
Close: 207.60 225.02 234.17
Volatility: 26 18 18
Volume: 4,248 7,077 12,239

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 gapped up today (bullish) on light volume. Possibility of a Common Gap which usually coincides with a lack of interest in the security. Common Gaps are fairly irrelevent for forecasting purposes. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
PHIL STK EXCH is currently 12.5% 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 moderate flows of volume out of PSE.PS (mildly bearish). Our trend forecasting oscillators are currently bearish on PSE.PS and have had this outlook for the last 43 periods. Our momentum oscillator is currently indicating that PSE.PS is currently in an oversold condition.

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