{"id":320797,"date":"2023-01-16T05:06:00","date_gmt":"2023-01-15T21:06:00","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=320797"},"modified":"2023-01-16T09:14:30","modified_gmt":"2023-01-16T01:14:30","slug":"pse-market-outlook-16-jan-2023-by-regina-capital-development-corp","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/pse-market-outlook-16-jan-2023-by-regina-capital-development-corp\/","title":{"rendered":"PSE Market Outlook (16 Jan 2023) by Regina Capital Development Corp."},"content":{"rendered":"\n
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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>16 Jan 2023<\/td><\/tr>
PSEi Support<\/strong><\/td>6,670 \/ 6,500<\/td><\/tr>
PSEi Resistance<\/strong><\/td>7,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
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The local bourse posted a massive breakout last Friday, up 118.01 pts at 6,951.54. It barreled through the key resistance levels (6,800 and 6,900) in just two days\u2014marking the PSEi\u2019s highest level since April 2022.<\/p>\n\n\n\n

This also marks the index\u2019s official bout into bull market territory, as it is currently up ~22% from the September 2022 low. <\/p>\n\n\n\n

Other indicators seem to be very supportive of a sustained run in the short-term. The 50-d and 200-d MA are also on the verge of a golden cross. <\/p>\n\n\n\n

At this point, the only thing that we need to be wary about is how deep the profit-taking pullback will go in order for us to position properly. Because a pullback will definitely happen, since the index is already in overbought territory. <\/p>\n\n\n\n

The immediate support at 6,670.00 could potentially be the PSEi\u2019s next base.<\/p>\n\n\n\n

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