PSEi about to test resistance at 4000
PSEi tested 4000 but was not able to close above this level. I hope PSEi breaks this resistance :) Good luck everyone! :)
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PSEi about to test resistance at 3130/3133
PSEi seems likely to test resistance at 3130/3133 (2Dec2009 and 15Jan2010) Open: 3110 High: 3125 Low: 3110 Close: 3120 White candle formation (3rd straight) opening low and closing near intraday high. 3rd straight higher high. 32MA seems to be supported by 130MA and might be a lagging indicator for the uptrend. 32MA might cross above 65MA to confirm bullish trend. RSI: 69 nearing overbought level of 70 but might also signal bullishness of the index after crossing above 70 Parabolic SAR: 3049 Regrads to Prof. Cayanan, CBA, UPD; and Congratulations to the UP-CBA delegation for winning CFA Investment Research Challenge for Asia-Pacific!!! Good luck on the Global IRC Competition :) Congratulations to Team Philippines for winning the Asia Pacific leg of the Global Investment Research Challenge on 6 March 2010. The Philippine Team came from the University of the Philippines, with students Pamela Li, Raymund Siegfrid Li, Jose Mari Punzalan, Rachelle Denise Sison, Choerleen Bianca Solema, fac...
What the ----!!! Gap down!
PSEi Open: 2859 High: 2864 Low: 2726 Close: 2855 What the ----!!! After hitting the 130MA PSEi made a nose dive by producing a gap down. Seems like the bears are in control... Be careful everyone :) RSI: 21 - oversold... PSEi might bounce but continue to trend downwards... 32MA 3016 crosses under 65MA 3019 - down trend...
The first green bar of a rally?
Daily Notes The first green bar of the rally (I am currently using the charting application provided by Citiseconline, if your using amibroker it should be the first white candle) After testing a possible resistance at 3133 (15Jan2010) the PSEi has dramatically and heartbreakingly collapsed. For the past 14 trading days: 4 trading days registered green/white candles (4/14) the rest is obviously in the red/black. Two gap downs were formed which would most likely be levels of resistance. Prior to todays market action the DJIA set the mood to trend upwards. This may have been the sign investors/traders have looking forward too. The evidence: a green/white candle with little downward uncertainty. The PSEi opened low and tested highs but still closed significantly higher than its open. Open:2867 Low: 2867 High:2892 Close: 2884 Is this a sign of a possible rally? Hopefully. But the volume does not support this opinion since today's volume fails in comparison to the past 14 trading days....
Daily Notes
Daily notes PSEi registered a green day today :) Which might be a reaction to a possible oversold level yesterday (RSI = 30.367) PSEi likely to cross the MA130 (2896) this week... The bears are definitely in control... WEB trying to find support... hopefully it found it at yesterday's low of 15.75, since it registered a higher low today of 16... PNX higher low today at 6.9 :) there might really be a support level at 6.6 :) I doubt it if PNX can break the resistance at 7.1 this week... Good luck to everyone :)