Figure 1: PSE Index Chart
Based on the current reading of our PSE Index, there are a couple of factors which I'm beginning to like:
1. The current index is still moving upward despite the recent crisis on the global market.
2. Even though the current index trend strength is very weak. A strong reading of momentum upward is building up since June 3, 2010. Currently at approx. 102 on my indicator which is a good sign.
3. PSE index is currently near major support at 3240 and is also at the oversold area of our indicator.
Based from this readings I'm expecting a big probability that our Index will be up for the week. I only hope that our current support line will hold and that the major resistance line will finally be breach.
Stock Watchlist: AEV, JGS, DMC, AP, URC, EEI, PIP, PCOR, JFC, MBT, CHIB, BDO, PNB, and UBP
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