StockWatch (Aug 2-6, 2010): PSEi

PSEi (Chart: Daily Resistance: 3485 Support: 3417)

The index moved sideways last week. There is not much action happening with the index and this may continue to move sideways next week. One good thing about this is that even if it is moving sideways, the index is not going below the support line. If this is further supported on the coming weeks, this would be a good sign of possible further upward movement.