PSEi Weekly Chart
PSEi (Chart : Daily Resistance: 2870/2910 Support: 2767 )Looks like we now have a breakdown from the support line from March 2009 and further bad news is that it is accompanied with a relatively large volume. From the weekly chart above the breakdown with large volume is very evident.
Going back to the daily chart, there has been a rebound from the support last Friday and it is possible that next week we will see the index move up. However, it is not recommended to buy any stocks for awhile, use next week’s return move towards resistance levels as a chance to get out of the market for a while.
No comments:
Post a Comment