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PSE Weekly Technical Analysis For February 14-18, 2022
- By The Financial District
- Feb 13, 2022
- 1 min read
The $PSEI just threw away all momentum it had going as it dropped 2% last Friday to end the week at 7270.
Photo Insert: The Philippine Stock Exchange (PSE) Index Technical Analysis, February 14-18, 2022
The moving averages continue to be in the bullish setup but the 50MA, at 7232, is now near the index. The MACD lines show it trending higher but we’re expecting it to reflect this drop soon.
The $PSEI momentarily broke the resistance of the triple bottom but the big drop negated that and it may be possible that we may see a clearer picture as election time nears, hopefully sooner than later.
Time to lock in some of those profits.
