{"id":328904,"date":"2024-08-12T05:04:00","date_gmt":"2024-08-11T21:04:00","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=328904"},"modified":"2024-08-12T09:27:34","modified_gmt":"2024-08-12T01:27:34","slug":"pse-market-outlook-12-aug-2024-by-first-metro-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/pse-market-outlook-12-aug-2024-by-first-metro-securities\/","title":{"rendered":"PSE Market Outlook (12 Aug 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>12 Aug 2024<\/td><\/tr>
PSEi Support<\/strong><\/td>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 rose by +0.64% w\/w to close at 6,647.80 pts. <\/p>\n\n\n\n

The benchmark index started the week in the red after forming a gap down pattern. It plunged below key moving averages (200-day, 100-day, and 50-day) and briefly touched the 6,400 critical level which proved to be a strong support. <\/p>\n\n\n\n

The market bounced back mid-week and completely recovered the gains lost early in the week. The benchmark index continued its ascent, gaining for three consecutive days. <\/p>\n\n\n\n

The market is currently hovering around the 100-day MA and is poised to retest next resistance levels. If the bulls dominate, the market may revisit the 6,700 and 6,800 resistance levels. <\/p>\n\n\n\n

Conversely, if the bears take control, the PSEi may pull back to its next sup- port levels around the 200-day MA to 6,400. <\/p>\n\n\n\n

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

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

Lighten up if the PSEi fails to break above 6,700. Gradually accumulate around the 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 rose by +0.64% w\/w to close at 6,647.80 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-328904","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\/328904","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=328904"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328904\/revisions"}],"predecessor-version":[{"id":328907,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/328904\/revisions\/328907"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=328904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=328904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=328904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}