Figure 1: PSE Index Chart
There is something in the market which I don't like right now. Last Thursday and Friday market action lacks some upward strength. Even though our index is neither at overbought or oversold area right now, the mere sight of the bearish divergence on our chart as indicated by the RSI already gives me an warning sign of a possible market correction. The target of the pennant was also approximately hit last week.
PSE Index Power Rating: 10
Sectoral and Respective Stock Power Ratings:
financial - +7
property - +5
holding - +2
service - +1
mining - +0
Financial:
nrcp - +71
ubp - +51
pse - +50
rcb - +32
secb - +20
bpi - +8
Property:
smph - +23
ali - +6
rlc - +5
Holding:
marc - +33
lihc - +29
ac - +16
aev - +10
sm - +7
service:
pax - +65
gma7 - +29
pal - +19
glo - +12
dfnn - +10
tel - +6
mining:
ni - +353
ov - +152
opm - +52
opmb - +49
ore - +30
geo - +27
apxb - +26
apx - +25
lc - +18
lcb - +18
mab -+15
ma - +12
property - +5
holding - +2
service - +1
mining - +0
Financial:
nrcp - +71
ubp - +51
pse - +50
rcb - +32
secb - +20
bpi - +8
Property:
smph - +23
ali - +6
rlc - +5
Holding:
marc - +33
lihc - +29
ac - +16
aev - +10
sm - +7
service:
pax - +65
gma7 - +29
pal - +19
glo - +12
dfnn - +10
tel - +6
mining:
ni - +353
ov - +152
opm - +52
opmb - +49
ore - +30
geo - +27
apxb - +26
apx - +25
lc - +18
lcb - +18
mab -+15
ma - +12
Hmm.. Where did most of the blues go? Its seems the current upward movement by the index was led by the 2nd and 3rd liners.
Note: Stocks not on the list are under performers and no need for me to show them.
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