Figure 1. PSE Index Chart
Last week we have seen majority of our stocks correct/consolidate. What really drove our index higher where mainly due to the shifting of interest by the buyers from the 1st liners to the 2nd/3rd liners. For the coming week I am expecting some shift of sentiments back to the 1st liners or the blue chips. This is just my opinion, the reason for me expecting the 1st liners to move up again is that they are the once who corrected a lot the previous week and that my primary indicator is showing that the overall market is already near the oversold level.
Another big factor that can contribute our market to continue moving up this week was the huge upward move of the DOW Index last Friday(+192.84 points). This will serve as one catalyst to move our market higher. As long as the DOW will keep pushing itself higher, our local market will also continue to push itself higher.
sir EPG, fast D gamit mo sa amibroker? mas reliable ba yan kesa RSI?
ReplyDeletesir EPG, what's your RSI setting? 7 days ba? Mine is 14( normal ). I like your RSI movement kasi, more exaggerated, easier to read.
ReplyDeleteI am using also the default value (14) for RSI. But my indicator here is not an RSI. Its a modified oscillator which I found in the net which I tweak for my needs. Unfortunately I forgot already from which site or article I have found it.
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