The PSEi managed to stay above its 100-day MA last week.

It is worth noting that the PSEi is forming a symmetrical triangle and with the PSEi nearing the apex of the triangle, the market could be in for a big move soon.

A break above 6,900 on strong volume could result to a retest of its recent highs around 7,400.

Recommendation

Trend followers can begin buying back once the market breaks above 6,900 on strong volume.

Lighten position should the PSEi break below 6,750/6,600.

LEAVE A REPLY

Please enter your comment!
Please enter your name here