Welcome to PinoyInvestor!

Attention would be on the PSEi’s staying power above the 6,600 level, or retrace near 6,500.

The PSEi closed on a red candle after it was rejected at 6700 levels near 50MA and 100MA.

Expect range-bound movements for now, as participants check for possible continuity of selling pressure especially on intra-day rallies.

Local equities may continue its ascent, as fund managers position in select stocks backed by improving momentum indicators.

The PSEi rose by +1.64% w-o-w to close at 6,618.69.

Movements might be range-bound, as investors revisit corporate stories, specifically expansion plans & other M&A angles.