{"id":328161,"date":"2024-06-03T05:04:00","date_gmt":"2024-06-02T21:04:00","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=328161"},"modified":"2024-06-03T09:12:03","modified_gmt":"2024-06-03T01:12:03","slug":"pse-market-outlook-3-jun-2024-by-first-metro-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/pse-market-outlook-3-jun-2024-by-first-metro-securities\/","title":{"rendered":"PSE Market Outlook (3 Jun 2024) 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>3 Jun 2024<\/td><\/tr>
PSEi Support<\/strong><\/td>6,500 \/ 6,400<\/td><\/tr>
PSEi Resistance<\/strong><\/td>6,700 \/ 6,800<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

The PSEi dropped by 2.82% w\/w to close at 6,433.10 (-186.79 pts). The index plunged to its lowest close year-to-date, erasing all the gains it made early in the year. <\/p>\n\n\n\n

The index finally broke below the 6,500 and 200-day moving average (MA) support region. <\/p>\n\n\n\n

If the bears continue to dominate, the PSEi could retest next support levels around 6,400 to 6,200. Otherwise, if the bulls dominate, the PSEi could retrace next resistance levels around 6,500 and 6,700.<\/p>\n\n\n\n

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

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

Watch out for possible basing which could provide trading opportunities. <\/p>\n\n\n\n

For those who plan to increase exposure, consider tranche buying around identified support areas.<\/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 dropped by 2.82% w\/w to close at 6,433.10 (-186.79 pts). <\/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-328161","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\/328161","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=328161"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328161\/revisions"}],"predecessor-version":[{"id":328164,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328161\/revisions\/328164"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=328161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=328161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=328161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}