Figure 1. PSE Chart
Figure 2. Technical Indicators
Base from the 2 figures above, we can clearly see that PSE is currently trading sideways. It is also standing at its short term trendline. Its nearest major support line is around 2890 while its nearest major resistance line is around 3900. The momentum is down but its acceleration downward is slowing down already. RSI reading indicates that PSE is bullish. RSI and %R is neither overbought or oversold.
Now looking at the bollinger bands and the keltner bands, together indicates that it started to be extremely consolidated. This indicates that there is a possibility of a breakout. Hoping momentum will become bullish soon to further reinforce this breakout.
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