Figure 1: PSE Price Chart
Our PSE is bullish from short to long term view. It is presently moving sideways to up in a very strong momentum. But despite of this the overall trend strength is still very weak, which concerns me. Another thing is that it is already at the overbought area of our oscillator. Also RSI is indicating that there is a bearish divergence. The PSE has set a new 14-day high while the RSI has not. Its major support area is located around 3250-3260. Im expecting a correction or consolidation in the near term.
Weekly Watchlist: AEV, DMC, JGS, AP, URC, FPH, EEI, PCOR
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