Market Outlook

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.

The PSEI marked its first red after its 3-day gain, closing down by -0.04%, holding above its recent base and gradually reclaiming momentum after prior low.

Selective trade is seen, as investors focus on select stocks with positive headlines.

Eyes are set on the PSEi’s run-up towards 6,150, as fund managers position for year-end window dressing.

The market might hold above the 6,000 zone, as fund managers focus on stocks worth accumulating.

The index edged up by +0.50%, climbing to 5,990.00 as it sustained its upward movement for another session.