PSEi Outlook for Feb. 13 – 17, 2012
The Philippine Stock Exchange Index (PSEi) has just gone sideways for the past week but it seems like it’s just taking a breather before moving higher once again.
Since we are now at the start of an uptrend, we should expect that there will be times when the market won’t move up but would just move sideways. However, we finally have a confirmation from the moving averages that we are bullish once again as they have set themselves up in the extremely bullish positions. The MACD lines have also gone sideways with the index.
We know that when prices move, there would be opposite movements in between and also some movements that would just be mere consolidation. The latter is what is happening now. But if this would mean that better things are in store for us then this would be something the whole market needs.
Recommendation: Hold
Support: 4680
