Market Outlook

Potential retest of 200EMA trail resistance.

Light sessions might continue, as participants check for catalysts to prod aggressive positioning.

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

Participants might look forward for 1Q23 earnings guidance for most of the week, as several listed firms line-up for their annual generation meeting (AGM) season.

Sentiment might take its cue from US equities’ overnight advance (DJIA +1.14%, Nasdaq Comp. +1.99%), as well as indications from BSP Gov. Medalla for consideration of rate pauses given the recent MoM inflation trend.

Mixed views are seen, as fund managers balance inflation estimates against the recent uptick in crude prices.

After a few small continuous uptrends, the PSEI has finally went back to 6,500 where prices managed to briefly consolidate.

Sessions might trend higher, as participants cheer slower inflation for March (7.6% vs. Feb.’s 8.6%).

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

Tight trading sessions are seen, as several investors prepare for the Lenten break.

Volatile sessions are seen, as market players weigh the unexpected production cut from OPEC+ against inflationary pressures and

Another tight session is seen, as participants check on improvements in participation during the week’s quarter-end closing.

After hitting its support, the PSEI has moved higher this past week where it went past MA 260 and now trying to take over 6,636 which is its next resistance.

Buyers might resume to take position in equities, with the Fed & local central bank’s 25bps rate hike already built-in into share prices.

After topping out at its SMA 260, the PSEi appears to be heading downwards but with indicators being a little bit better as compared to last month.