Market Outlook

The index closed yesterday at 6,549.27 (+0.22%), trading above its 50-MA line, and cautiously continuing its gain streak after several price fluctuations.

The index closed at 6,433.24 (-0.02%) yesterday, below all MAs.

The PSEi fell by -1.79% w/w to close at 6,605.30 pts.

The index closed at 6,693.83 (+1.13%) yesterday within the range of 6,578-6,779, slightly above all MAs, despite several price fluctuations seen throughout the week.

The PSEi index falls below its 100-MA support level down to the lower 6600s.

Choppy sessions are seen given the month-end portfolio closing, while attention is set whether local gauges could keep its poise above the 6,600 marks.

The PSEi closed at 6,670.27 (-1.23%) yesterday within the range of 6626-6832, lower than the past few days and below its 52-w high, but still above the 50-MA line.

Participants might focus on the US economy’s 2Q GDP, which came in at a faster clip vs. 1Q (+2.8% vs +1.4%), as well as views on the timing of the Fed’s policy easing cycle.

The index performed incredibly bullish last week closing on a rally-high at 6791.69, nearing the 6800s territory.

The PSEi surged by +2.16% w/w to close at 6,791.69pts.

The PSEi closed at 6705.01 yesterday (+0.26%) within the range of 6610-6730, with all indicators showing signs of bullishness, and the index trading above all MA-s.

The index closed yesterday at 6667.09 (-0.33%) trading comfortably bullish above its 100-MA resistance region.

The PSEi sustained its ascent, gaining by +2.39% w/w to close at 6,648.23pts.

The index closed at 6609.24 yesterday (+1.85%) within the range of 6484-6638, with all indicators exhibiting signs of bullishness.

Eyes are set whether the PSEi would continue its recent strength, or sellers might seize on this move to pocket gains.