PSEi seen shedding ‘another 200 points’

HE stock market could fall further this week ahead of a renewed push to 9,000, analysts said.

Eagle Equities, Inc. research head Chris Mangun said the benchmark Philippine Stock Exchange index (PSEi) could shed another 200 points but may see a recovery before the end of the month.

“We are currently down 2.9 percent for the month of February but I have no doubt that we will [see]a recovery before the end of the month. I will not [also]be surprised if we lose another 200 points this week,” Mangun said.

“However, I am also confident that if we do, we will see it hold our major support at 8,300. If this scenario plays out, we will see the index bounce of that support line and break above 9,000,” he added. Read More @

What is the Technical Charts Saying?

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1 Comment
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