The resistance zones of 6709.73 and 6871.14 respectively was broken by PSEi, closing at 7035.48 yesterday.

It appears that index is already overbought and can be exposed to profit taking due to RSI which is above 80.

Recommendation

If you haven’t position in index stocks yet, we advise to enter on the new support levels which is near 6871.14 and 6709.73

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