PSE WEEKLY TECHNICAL ANALYSIS FOR MAY 10-14, 2021

The $PSEI continues to slide lower as seen with this week’s weak performance to end at 6258.71.

The index fell further from the 200-day moving average, currently at 6510. The price has also started to push the lower Bollinger band, which tells us the downtrend has continued.

As the $PSEI falls further with each week, and the indicators are not showing a pretty picture, we now have to contend ourselves with psychological supports to see if the index would stop at those levels or it would continue breaking them.

Practically only half of the market is left active as the value turnover has fallen further to less than 5 billion pesos daily average. Take your time, there’s no rush to trade.

WEEKLY FEATURE : TRUEMONEY PHILIPPINES BUCKS THE COVID-19 CHALLENGE