{"id":329788,"date":"2024-10-07T05:04:00","date_gmt":"2024-10-06T21:04:00","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329788"},"modified":"2024-10-07T09:20:04","modified_gmt":"2024-10-07T01:20:04","slug":"pse-market-outlook-7-oct-2024-by-first-metro-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/pse-market-outlook-7-oct-2024-by-first-metro-securities\/","title":{"rendered":"PSE Market Outlook (7 Oct 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>7 Oct 2024<\/td><\/tr>
PSEi Support<\/strong><\/td>7,300 \/ 7,100<\/td><\/tr>
PSEi Resistance<\/strong><\/td>7,550<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

The PSEi inched higher by 0.53% w\/w to register another 52-week high at 7,467.92 (+39.62pts). <\/p>\n\n\n\n

The index extended its winning streak to five straight weeks on net foreign buying. The index remains bullish, trading above key moving averages (200-day, 100-day, and 50-day), and with momentum indicators (MACD and RSI) near overbought levels. <\/p>\n\n\n\n

However, we suggest exercising caution at current levels as the local bourse hovers at the top end of its pandemic range. <\/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-day 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 7,100\/7,000 area or when price closes above 7,550.<\/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 inched higher by 0.53% w\/w to register another 52-week high at 7,467.92 (+39.62pts). <\/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-329788","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\/329788","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=329788"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329788\/revisions"}],"predecessor-version":[{"id":329790,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329788\/revisions\/329790"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}