{"id":322935,"date":"2023-05-02T05:06:00","date_gmt":"2023-05-01T21:06:00","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=322935"},"modified":"2023-05-02T09:04:59","modified_gmt":"2023-05-02T01:04:59","slug":"pse-market-outlook-2-may-2023-by-regina-capital-development-corp","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/pse-market-outlook-2-may-2023-by-regina-capital-development-corp\/","title":{"rendered":"PSE Market Outlook (2 May 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>2 May 2023<\/td><\/tr>
PSEi Support<\/strong><\/td>6,600<\/td><\/tr>
PSEi Resistance<\/strong><\/td>6,700<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
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The index is trying to break above 6600 levels. Support levels are at 6,600 and resistance at 6,700. <\/p>\n\n\n\n

RSI levels are currently bullish, currently at 56.83. MACD remains above the signal line, as buying pressure persists. ATR is pointing downwards, showing signs of a less volatile market. <\/p>\n\n\n\n

If the index goes above 6,600 we can set 6,700 as its next move upwards but being rejected at these levels will push prices down to 6.350 levels. <\/p>\n\n\n\n

This May would be an interesting month as we could finally see if the index would start going back to 7,000 levels or will it hit its top at 6,600 to retrace back to lower levels, seeing that the index closed at a higher candlestick at the end of April.<\/p>\n\n\n\n

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