Market Outlook

The index rebounded after a pullback from previous resistance levels, closing +1.53% higher while staying above key moving averages signaling a sustained uptrend.

Participants will monitor the PSEi’s movement past 6,500, as others might seize on this strength to cash-out.

Participants will monitor possible selling pressure on intra-day strength, to gauge the strength of the next resistance hurdle for local equities.

The index eased to −0.17% after its three-day rally closing at 6,408.76 while staying comfortably above key moving averages and signaling an intact bullish bias.

Movements might stay range-bound for now, possibly with a plus-side boost, as fund managers position in key large-caps.

Gauges might be poised for slight technical breathers, given its ascent the previous sessions.

The PSEi rose 3.5% w/w, closing at 6,348.14 (+213.1 pts).

Another positive tone is in store for equities, as investors may take their cue from Wall Street’s Friday incline.

The index edged up +0.45% higher after a short retest in resistance levels staying above moving averages, signaling sustained bullish sentiment.

Movements might be in a narrow range for now, as those likely to position check for supply presence on intra-day strength.

The PSEi rose 0.19% w/w, closing at 6,052.92 (+11.70 pts), and is forming a reverse head and shoulders pattern, which is a bullish reversal signal.

Friday’s trades would likely be range-bound, with several fund managers on their New Year break.

The index attempted to break 6100 levels, but profit-taking emerged.

Participants may check for renewed buying, as some might take their cue from Wall Street’s ascent on favorable inflation and labor market gauges.

Optimism is seen to prevail, with eyes set for 6,150.