{"id":320630,"date":"2023-01-09T05:06:00","date_gmt":"2023-01-08T21:06:00","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=320630"},"modified":"2023-01-09T09:28:33","modified_gmt":"2023-01-09T01:28:33","slug":"pse-market-outlook-9-jan-2023-by-regina-capital-development-corp","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/pse-market-outlook-9-jan-2023-by-regina-capital-development-corp\/","title":{"rendered":"PSE Market Outlook (9 Jan 2023) by Regina Capital Development Corp."},"content":{"rendered":"\n
<\/div>\n\n\n\n
\"\"<\/figure>\n\n\n\n
<\/div>\n\n\n\n

Today’s PSEi Outlook<\/h2>\n\n\n\n
Outlook on<\/strong><\/td>Philippine Stock Exchange index (PSEi)<\/td><\/tr>
Broker<\/strong><\/td>Regina Capital Development Corp.<\/td><\/tr>
Opinion Issued on<\/strong><\/td>9 Jan 2023<\/td><\/tr>
PSEi Support<\/strong><\/td>6,400 \/ 6,300<\/td><\/tr>
PSEi Resistance<\/strong><\/td>6,800 \/ 6,900<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

The local bourse closed -1.38% lower last Friday at 6,667.97\u2014notching the first red candlestick of the year. The pullback was largely expected considering the significant three-day pump that brought the PSEI teetering on the edge of overbought territory. <\/p>\n\n\n\n

This only further cements the 6,800 level as a strong resistance\u2014some may even consider this barrier as the short-term profit taking point. <\/p>\n\n\n\n

Indicators are still slightly bullish, but the buying pressure is losing daylight. <\/p>\n\n\n\n

Luckily for the index, it formed a golden cross just last week. This means that there is a potential for mid-term uptrend, so long as its current trend channel holds. <\/p>\n\n\n\n

That means the index must not correct further than the 6,400 support.<\/p>\n\n\n\n

Technical Indicators:<\/strong> <\/p>\n\n\n\n