PSE WEEKLY TECHNICAL ANALYSIS FOR APRIL 12-16, 2021

The $PSEI may have been able to return to the 6500 level as it closed the week at 6545.17 yet it lacks strength to it.

The 200-day moving average at 6498 is again serving as immediate support, but with the way the index performed, it might not hold for long. The MACD lines continue to oscillate under the zero line, still indicating weakness.

The $PSEI has not been able to regain the healthy value turnover average of 10 billion pesos after the Holy Week break is over. It might indicate either people are staying on the sidelines as the index doesn’t show any encouraging signs to return or they’re waiting for a definite sign to return to the market.

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