9
March
2010
Philippine Stocks Rebounding, Promising Outlook?
Nathan
Disclaimer: I am not an expert in this field. However, I do engage in regular trading and sessions with enthusiasts and analysts in order to share ideas and experiences.
At the start of the year, the PSEi reached its peak of 3,130, well around the psychological resistance of 3,133. With the recent steep decline mostly attributable to market correction, especially with the overbought conditions towards the rise to 3,130. According to analysts, it was a bit expected to see the market dip so much, and expectations are mostly for the market to go sideways for a few months at the first half of the year. However, recently (today), the Philippine Stock Exchange index broke the 3,100 mark at 3,107.25, giving good signals that we might break the recent high of 3,130, which will be good for everyone.
PSEi - 6 months until March 9, 2010 (c/o Bloomberg charts)
Read more of an analyst’s point of view on the 3,133 mark.
What do you think? Will the trend still be bullish? or will it continue sideways?
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Very interesting blog post thank you for writing it I have added your site to my bookmarks and will check back
By the way this is a little off subject but I really like your web page layout.
Thanks for your feedback. Will need more of those to help me drive the blog to a more appropriate direction. Cheers!