PSE Weekly Technical Analysis For November 8-12, 2021

The $PSEI ended the week on a strong note as it finished the week at 7340.77, 4% higher than the previous week.

Photo Insert: The Philippine Stock Exchange (PSE) Index Technical Analysis, November 8-12, 2021

The moving averages continue to serve as support, with the nearest being the 50-day moving average at 7021. The MACD lines are staying above the zero line, although it’s not showing the strength expected.

We’re still looking at the $PSEI to break 7432 before we can say that things have turned around. Once that breaks, although there are numerous resistances to consider on the way up, we’re still putting an upside potential of 44%.

Some stocks have started to show some strength, it may be time to pick them up.

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