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PSE Weekly Technical Analysis For February 28-March 4, 2022
- By The Financial District
- Feb 28, 2022
- 1 min read
The $PSEI lost momentum in the final hour last Friday as war in Ukraine also broke out. The index finished at 7212.23.
Photo Insert: The Philippine Stock Exchange (PSE) Index Technical Analysis, February 28-March 4, 2022
The index came crashing down just before 12 noon and it immediately broke the 50MA (7277) and 100MA (7238) as an immediate reaction to the Russian invasion.
The MACD lines also are pointing down but the fast line has accelerated going down due to this.
Overall, the triple bottom we saw is essentially intact. However, we hope to take our cues from Europe, where the major indices rose by 3%, and the US, where the DJIA rose by 2%.
