{"id":323705,"date":"2023-06-19T05:04:00","date_gmt":"2023-06-18T21:04:00","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=323705"},"modified":"2023-06-19T09:51:09","modified_gmt":"2023-06-19T01:51:09","slug":"pse-market-outlook-19-jun-2023-by-first-metro-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/pse-market-outlook-19-jun-2023-by-first-metro-securities\/","title":{"rendered":"PSE Market Outlook (19 Jun 2023) by First Metro Securities"},"content":{"rendered":"
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\"\"<\/figure><\/div>\n\n\n
<\/div>\n\n\n\n

Today\u2019s PSEi Outlook<\/h2>\n\n\n\n
Outlook on<\/strong><\/td>Philippine Stock Exchange index (PSEi)<\/td><\/tr>
Broker<\/strong><\/td>First Metro Securities<\/td><\/tr>
Opinion Issued on<\/strong><\/td>19 Jun 2023<\/td><\/tr>
PSEi Support<\/strong><\/td>6,400<\/td><\/tr>
PSEi Resistance<\/strong><\/td>6,600 \/ 6,800<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

After the market failed to break above the 200-day MA, the market retested and briefly traded below the 6,400 level with the 20-day MA falling below the other key MA levels (50-day, 100-day, and 200-day) this week. <\/p>\n\n\n\n

Moreover, the MACD remains below both the signal and zero lines, which indicates that the bears remain in control. <\/p>\n\n\n\n

We are of the view that should the PSEi break below 6,400, the market can retest the next support levels at 6,200 and 6,000. Moreover, we think that only once the PSEi breaks above 100-day MA\/6,740\/6,800 will result in the reversal of the market\u2019s short-term downtrend.<\/p>\n\n\n\n

<\/div>\n\n\n\n

Recommendation<\/h2>\n\n\n\n

Gradually accumulate once the PSEi trades back above 6,800.<\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

After the market failed to break above the 200-day MA, the market retested and briefly traded below<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-323705","post","type-post","status-publish","format-standard","hentry","category-market-outlook","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/323705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=323705"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/323705\/revisions"}],"predecessor-version":[{"id":323708,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/323705\/revisions\/323708"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=323705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=323705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=323705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}