{"id":20405,"date":"2011-03-30T02:11:39","date_gmt":"2011-03-30T06:11:39","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=20405"},"modified":"2011-03-30T02:11:39","modified_gmt":"2011-03-30T06:11:39","slug":"psei-crucial-resistances-ahead","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/03\/30\/psei-crucial-resistances-ahead\/","title":{"rendered":"PSEi: Crucial Resistances Ahead"},"content":{"rendered":"<p><a href=\"http:\/\/www.laidtrades.com\/wp-content\/uploads\/2011\/03\/philippine-stock-exchange-composite-index-PCOMP-PSEI-March-29-2011.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-8485 size-medium\" title=\"philippine stock exchange composite index PCOMP PSEI March 29, 2011\" src=\"http:\/\/www.laidtrades.com\/wp-content\/uploads\/2011\/03\/philippine-stock-exchange-composite-index-PCOMP-PSEI-March-29-2011-300x170.png\" alt=\"philippine stock exchange composite index, PCOMP, PSEI, phisix, philippine economy, ron acoba, stock market trading, descending channel\" width=\"300\" height=\"170\" \/><\/a><\/p>\n<p>Troubles  in the international market, particularly in the Middle East and Japan,  have been weighing heavily on the Philippine equities market. Hence,  you might ask when is it best to jump back in especially at these times  of uncertainties.&nbsp;<\/p>\n<p>The Philippine Stock Exchange Composite Index or PSEi has been  trading within a descending channel since November last you. After  peaking at 4,413.42 back in November 5, 2010, the index had steadily  fallen to a low of 3,705.18 on February 28 this year. Notice from the  chart above that the only support that has been keeping the entire  phisix afloat was its 200-day moving average. With the index still  respecting this major long-term support, the general view for the market  remains upbeat despite the sell-offs that we have been seeing here and  there. However, selling pressure should still be expected given its  5-month down trend.<\/p>\n<p>Recently, the index has rebounded fairly following last week&rsquo;s flat  trading. Note, though, that there are key resistances ahead that are  needed to be taken out before it could resume its uptrend. Ultimately,  it needs to clear the resistance of the descending channel which  coincides with this month&rsquo;s high at 3,959.94 and the 4,000.00  psychological price level to do so.<\/p>\n<p>So to answer the question of when is it best for one to buy back in  the market, from a technical analysis point of view, I would say that it  is safer to enter when the PSEi moves above 4,000.00 but that&rsquo;s just  me. <\/p>\n<p>More on <a href=\"http:\/\/www.laidtrades.com\/\">LaidTrades.com<\/a> &#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Troubles in the international market, particularly in the Middle East and Japan, have been weighing heavily on the Philippine equities market. Hence, you might ask when is it best to jump back in especially at these times of uncertainties.&nbsp; The Philippine Stock Exchange Composite Index or PSEi has been trading within a descending channel since &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/03\/30\/psei-crucial-resistances-ahead\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;PSEi: Crucial Resistances Ahead&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-20405","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=20405"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20405\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=20405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=20405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=20405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}