{"id":329903,"date":"2024-10-14T05:04:00","date_gmt":"2024-10-13T21:04:00","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329903"},"modified":"2024-10-14T09:29:05","modified_gmt":"2024-10-14T01:29:05","slug":"pse-market-outlook-14-oct-2024-by-first-metro-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/pse-market-outlook-14-oct-2024-by-first-metro-securities\/","title":{"rendered":"PSE Market Outlook (14 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>14 Oct 2024<\/td><\/tr>
PSEi Support<\/strong><\/td>7,300 \/ 50-day-MA<\/td><\/tr>
PSEi Resistance<\/strong><\/td>7,450 \/ 7,550<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

The PSEi snapped its 5-week winning streak to plummet by 2.11% w\/w, closing at 7310.32 (-157.60pts). <\/p>\n\n\n\n

The index took a steep breather after hovering at extremely overbought levels and overextending above key moving averages (200-day, 100-day, and 50-day). It is currently retesting its long-term support and short-term uptrend line at 7,300. <\/p>\n\n\n\n

Moreover, momentum indicator RSI have returned to the neutral zone, while MACD has signaled short-term bearish action. <\/p>\n\n\n\n

We suggest patience at current levels and wait for the index to establish support around key levels. <\/p>\n\n\n\n

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

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

See if the PSEi establishes support and sets up a buy signal at current levels. <\/p>\n\n\n\n

A break below its uptrend line and support at 7,300 may send the bourse to 7,100.<\/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 snapped its 5-week winning streak to plummet by 2.11% w\/w, closing at 7310.32 (-157.60pts).<\/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-329903","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\/329903","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=329903"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329903\/revisions"}],"predecessor-version":[{"id":329906,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329903\/revisions\/329906"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}