First Metro Securities

If the PSEi sustains its last week’s rally, it can retest next resistance levels at

The PSEi surged by +2.88% w-o-w, sustaining its rally the previous week. However, the volume remained tepid at P3.1bn.

The PSEi bounced back by +0.46% w-o-w, after hitting a year-to-date low the previous week.

If the PSEi recovers, it can retest previous support-turned-resistance at 6,200 to 6,400.

The PSEi dropped by -1.97% w-o-w to close at 6,142.90, breaking below the 6,200 support level.

The PSEi retreated by -0.97% w-o-w to close at 6,259.95 (-61.29pts).

The 6,400 level proved to be a strong support as the PSEi bounced back from the said level last week.

After the market failed to break above the 200-day MA, the market retested and briefly traded below

The PSEi rebounded last week, however, value turnover averaged only at P3.8bn.

The market traded in a tight range last week, however, the PSEi still closed below the 200-day MA.

The market traded in a tight range last week, however, the PSEi still closed below the 200-day MA.

As expected, after the market broke below the 100-day/200-day MA, the market retested (and briefly broke below) the 6,400 level.