Tuesday, June 22, 2010

Philippine Stock Exchange Index: PSEi - June 22, 2010

The Philippine Stock Exchange index (PSEi) has been testing it's 2-year resistance for the past few months. From my previous post, the PSEi looked to have broken above that resistance but then, it went back in. However, a break above 3,300 would be more convincing for the index to continue its ascend all the way to the 3,514.74 resistance. Once 3,514.74 is cleared out, the next resistance could be 3,667.74. As of now, the support is at 3,219.46. If the value drops below the 3,219.46 price mark, the uptrend could serve as the next support. But as long as the uptrend remains intact, I'd bet on the upside.

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