This Weeks Market Outlook (by AB Capital - TopicsExpress



          

This Weeks Market Outlook (by AB Capital Securities) bit.ly/NoypiInvestor The main index is now on correction mode since its steep ascent last February. Although we expect the main index to trek lower on weak indicators, we think that this is a healthy correction since it has kept its four-month long uptrend. On its Friday close, the PSEi recently touched the lower-band of the uptrend channel. The ongoing technical correction, along with dampened sentiment on fundamental factors, could send the main index back to 6,250. ACTION: We advise investors to wait for the main index to settle near 6,250 before accumulating. The market correction is necessary for the PSEi to propel back to 6,600 which it last visited five months ago. Monday will also mark Manila Electric Company (MER)s return to the main index as it knocks Manila Water Company (MWC) off the bellwether composition. We place our support and resistance at 6,250 and 6,550, respectively. Access more stock market reports here → https://facebook/groups/PSMIG/592508437503016/ - Investing Pinoy https://facebook/groups/PSMIG/
Posted on: Sun, 16 Mar 2014 14:15:41 +0000

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