PSE WEEKLY TECHNICAL ANALYSIS FOR MAR. 1-5, 2021

The $PSEI fell further this past week, despite a strong green day last Friday, as the index closed the week at 6794.86.

The index is now hovering above the 100-day moving average at 6777, the immediate support. This may not hold for long as the MACD lines have turned extremely bearish again and we could be resuming a downtrend.

Since the $PSEI has already broken the support last week, we should assume that the trend will continue to go down and we’re looking at a downside target of 5058. This is presuming that there are no changes to the current situation we’re in. Hope for the best and prepare for the worst. - Bonner Dytoc

WEEKLY FEATURE : BONNER DYTOC SHOWS THE WAY IN STOCK PLAY