{"id":325260,"date":"2023-10-09T05:04:00","date_gmt":"2023-10-08T21:04:00","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=325260"},"modified":"2023-10-09T09:07:12","modified_gmt":"2023-10-09T01:07:12","slug":"pse-market-outlook-9-oct-2023-by-first-metro-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/pse-market-outlook-9-oct-2023-by-first-metro-securities\/","title":{"rendered":"PSE Market Outlook (9 Oct 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>9 Oct 2023<\/td><\/tr>
PSEi Support<\/strong><\/td>6,200 \/ 6,000<\/td><\/tr>
PSEi Resistance<\/strong><\/td>6,400 \/ 6,600<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

The PSEi retreated by -0.97% w-o-w to close at 6,259.95 (-61.29pts). The benchmark index was mostly in the red last week retesting the 6,200 support level. <\/p>\n\n\n\n

The market is still trading below its key moving averages (50-day, 100-day, and 200-day), indicating that sentiment remains to be bearish. <\/p>\n\n\n\n

If the PSEi pulls back further, it can retrace towards next support levels around 6,200 and 6,000. Otherwise, should the market bounce back, it can retest next resistance levels at 6,400 to 6,600.<\/p>\n\n\n\n

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

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

Continue to buy in tranches around identified support areas (6,000, 5,700, 5,400, 4,500) should the market revisit lower levels. <\/p>\n\n\n\n

Allocate some buying power to take advantage of offshoots in the market’s bearish stance.<\/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":"

The PSEi retreated by -0.97% w-o-w to close at 6,259.95 (-61.29pts). <\/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-325260","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\/325260","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=325260"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/325260\/revisions"}],"predecessor-version":[{"id":325267,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/325260\/revisions\/325267"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=325260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=325260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=325260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}