PSE In Focus (November 10, 2009)

Figure 1. PSE Chart

 Figure 2. Technical Indicators.

On my last analysis of PSE, I mention that a breakout is already eminent. Today PSE just broke its 2970 resistance line. Base on figure 1 above, the next is a major resistance located around 3050.

PSE trend strength is still weak. Momentum reading is now bullish at 107.
RSI and %R are near the overbought area already, indicating that a possible consolidation or a correction in near.. This may be the 3050 line of figure 1.