{"id":328455,"date":"2024-07-22T05:06:00","date_gmt":"2024-07-21T21:06:00","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=328455"},"modified":"2024-07-22T10:08:21","modified_gmt":"2024-07-22T02:08:21","slug":"pse-market-outlook-22-jul-2024-by-regina-capital-development-corp","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/pse-market-outlook-22-jul-2024-by-regina-capital-development-corp\/","title":{"rendered":"PSE Market Outlook (22 Jul 2024) by Regina Capital Development Corp."},"content":{"rendered":"
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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>22 Jul 2024<\/td><\/tr>
PSEi Support<\/strong><\/td>6,610<\/td><\/tr>
PSEi Resistance<\/strong><\/td>6,730<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
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The index performed incredibly bullish last week closing on a rally-high at 6791.69, nearing the 6800s territory. Stocks are now trading above all MAs, recovering to positive YTD levels. <\/p>\n\n\n\n

Although, the index might have outperformed itself as the RSI is around the overbought area with momentum at 69.73. High pressure is also evident with a positive crossover in both MACD and +DI. <\/p>\n\n\n\n

It is also noteworthy that the gap between the 50-MA and 200-MA is narrowing, indicating improving price conditions in the short-term. <\/p>\n\n\n\n

Given the indicators, although stocks are doing good at the moment, a slight pullback is expected due to the overbought RSI. <\/p>\n\n\n\n

It is recommended to buy on the anticipated price dips and sell on rallies.<\/p>\n\n\n\n

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