PSEi (Chart: Daily Resistance: 4340 Support: 4170)
The index continued to move downward at the start of last week, but was able to recoup losses on the last 2 trading days.
A question of whether this is already the continuation of the upward trend is still unanswered until it is able to break above previous high of 4340. As of current the pattern we are seeing now is a sideways movement trading between 4170 and 4340.
Most of the positive stocks last week were the index stocks and in general most of the other stocks did not react well to the 2 day index run. So for next week, keeping liquid is still best, but for those who would like to take advantage of the ranging action, it would be best to play only a small portion of your portfolio.
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