PSEi seen to finish strong at 8,500 in 2019; but we differ in our views…Finwaze.
MANILA, Philippines – Amid challenges in the Philippine economy in the first half of the year, analysts are bullish that the benchmark index will end on a high note in 2019.
Philstocks senior research analyst Japhet Tantiangco said in a briefing on Friday, July 5, said that they are projecting the Philippine Stock Exchange index (PSEi) to end at 8,500 in 2019. The figure is higher than their previous estimate of 7,750 to 8,400. (READ: PSEi is ASEAN’s 3rd best in 1st half of 2019) “During the latter part [of the first half of the year], we saw a steep upward slope for the market, touching 8,000 and formed an ascending triangle pattern, which is a bullish signal,” Tantiangco said. Rappler.
WHY WE DIFFER? WE EXPLAIN USING THE TECHNICAL CHART
We believe the price will break the 8120 and extend to 9000 – we also believe the price will be higher then 9000 by the year end.
FUNDAMENTALLY LOOKS GOOD
- Strong Senate endorsement
- Strong economic growth
- Inflation well balance
- Income re-organise for better livelihood
- Corporate Governance check & balance by the current Duterte Admin
- Build, Build and Build program for better economy
- Better education system
- Better Military, police and the Navy
- Corruption check & balance – reducing month by month
- Social media attacks and criticism around China issues
- Security and stability if the current leaders leave
- People are vulnerable due to lack of education on Finance & Banking structure
- Taxation enforcement still slow
We see more strength then weakness – we BELIEVE PSEi is totally undervalued and soon foreigners will take advantage of PESO weakness to get into the market as they believe ultimately Peso will strengthen and they will benefit in the ways – Stock appreciation & currency.
RADE SAFELY AND ENSURE THAT YOU HAVE PROPER RISK MANAGEMENT – TP & SL’s properly done and placed…
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