PSE Market Outlook (18 Oct 2023) by 2TradeAsia
Market participants would check for continuity of yesterdayâs ascent, as investors heed for the release of 3Q earnings results from listed firms.
PSE Market Outlook reports summarize our partner brokersâ analysis of the expected short-term movement of the Philippine Stock Exchange index (PSEi). This report primarily relies on Technical Analysis and may be useful to short-term or day traders.
Market participants would check for continuity of yesterdayâs ascent, as investors heed for the release of 3Q earnings results from listed firms.
Expect volatile trades, as sentiment remains glued to geopolitical headlines.
Movements might remain limited for now, as the global investing community remain alert on the situation in the Middle East & potential ripple-effect to the commodities market.
The PSEi saw some upward movement in yesterday’s trading as it closed at 6,280.
The PSEi changed slightly in yesterday’s trading, as it looks to hold at its current range.
Market participants may weigh reception to local industry playersâ move to reduce fuel prices, or skew in favor of the recent Mideast conflictâs effect on sequel oil pricing.
The PSEi retreated by -0.97% w-o-w to close at 6,259.95 (-61.29pts).
The PSEi tumbled below the 6200-level, with a candle that almost resembled a bearish marubozu candle.
Market participants will monitor progression on the lifting of rice price ceiling, parallel to the approved fare hike of LTFRB for jeepney vehicles.
Subdued sessions are seen following the PSEiâs decline yesterday, as participants await for the release of September inflation.
The index closed at 6,385.32 as the index bounced back.
The index closed at 6,263.94 as the index bounced back.
Attention is set whether the PSEiâs run-up would continue, or for prospective breathers to set in.
Participants will monitor if prospective technical breathers might set in, given the local marketâs recent ascent.
Market participants will monitor the PSEiâs move above the 6,200 mark, following prior sessionsâ ascent.
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