StockWatch (Mar 09-13, 2009): PSEi, TUNA

Note: (Mar 15, 2009)- I made a mistake of posting the TUNA chart for the PSEi analysis and the PSEi chart for the TUNA analysis. I have now corrected this mistake.


PSEi (Chart: Daily Resistance: 1932/2036/2092 Support: 1837)

Looks like the long sideways waiting game is over. The index now got its beat back with a short rally last week accompanied with high volume. Currently the index is just above the 65 day MA, which is a very good sign. The support line connecting the lows of Aug 2007 to Jul 2008 provided a good support while the index was lazily moving sideways. As of current the short term trend is upwards, but there is still no good lead as to where the index would go in the long term. A thing to observe though, the 65 day MA is currently moving near the 130 day MA. If it moves above the 130 day MA, then we have a confirmation that buyers are starting to get in the market again and hopefully jumpstart the life of index.


TUNA (Chart : Daily Resistance: 1.40-150 Support: 1.14)

TUNA has long been moving downwards and it seems that this stock has now reached oversold level. The previous low of 1.14 seems to have provided support last Friday when the stock moved lower, but eventually closed at the same level as the opening price. For the following weeks, watch for a possible rally and retest of resistance line, connecting the troughs from the previous low, this is the support turned resistance line when the stock broke down from this line last Feb.