{"id":329483,"date":"2024-09-16T05:04:00","date_gmt":"2024-09-15T21:04:00","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329483"},"modified":"2024-09-16T08:47:39","modified_gmt":"2024-09-16T00:47:39","slug":"pse-market-outlook-16-sep-2024-by-first-metro-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/pse-market-outlook-16-sep-2024-by-first-metro-securities\/","title":{"rendered":"PSE Market Outlook (16 Sep 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>16 Sep 2024<\/td><\/tr>
PSEi Support<\/strong><\/td>7,000 \/ 6,800<\/td><\/tr>
PSEi Resistance<\/strong><\/td>7,140 \/ 7,300<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

The PSEi rose by 1.25% w\/w to close at 7,022.85 (+86.76pts). The index managed to end a volatile week in the green, finally closing above the elusive 7,000 level\u2014the first time since Jan 2023. <\/p>\n\n\n\n

While the index remains bullish, trading above key moving averages (200-day, 100-day, and 50-day), sellers have started to increase with the continuous formation of candle wicks. This signals near-term weakness as confirmed also by an RSI bearish divergence. <\/p>\n\n\n\n

If bullish sentiment prevails, the index may retest the 7,140 resistance level. However, if bears reverse sentiment, the PSEi could return below the 7,000 level.<\/p>\n\n\n\n

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

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

Trail your stops. If price breaks down and closes firmly below the 20\/MA, reduce your positions to secure gains. <\/p>\n\n\n\n

For those who plan to increase exposure, consider tranche buying around identified support areas around the 6,800 area.<\/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 1.25% w\/w to close at 7,022.85 (+86.76pts). <\/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-329483","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\/329483","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=329483"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329483\/revisions"}],"predecessor-version":[{"id":329486,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329483\/revisions\/329486"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}