{"id":321011,"date":"2023-01-23T05:06:00","date_gmt":"2023-01-22T21:06:00","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=321011"},"modified":"2023-01-25T08:49:24","modified_gmt":"2023-01-25T00:49:24","slug":"pse-market-outlook-23-jan-2023-by-regina-capital-development-corp","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/pse-market-outlook-23-jan-2023-by-regina-capital-development-corp\/","title":{"rendered":"PSE Market Outlook (23 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>23 Jan 2023<\/td><\/tr>
PSEi Support<\/strong><\/td>7,000 \/ 6,500<\/td><\/tr>
PSEi Resistance<\/strong><\/td>7,100<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
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The local bourse closed nearly flat, just 0.08% lower at 7,056.62 lower last Friday. This is nevertheless still +1.51% higher w\/w. <\/p>\n\n\n\n

Again, the index is still flirting with the overbought region, so we can’t consider this a correction just yet. The downturn is too small and stable. At this point, it looks like the index is consolidating already. <\/p>\n\n\n\n

We can’t rule out a breakdown just yet, though. It is likely that the index will only start to stably trade sideways and form a new base once its 9-d SMA catches up with its lows. <\/p>\n\n\n\n

The short signal line is currently at 6,900.00. There’s a 100-pt gap that the index needs to fill in order to strengthen the 7k support and sustain a reliable upward trend channel in the medium term.<\/p>\n\n\n\n

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