PSEi Closed the Week at 7289.88

PSE Index as of January 08, 2021. The Philippine Stock Exchange Index (PSEi) closed strongly today, the last trading day of the week, at 7289.88. That’s 2.39% up from yesterday’s close of 7119.61 and 2.10% up from the December 29, 2020 close of 7139.71.

PSEi Chart
PSE Index at close of trading, January 08, 2021.

The PSEi breached the minor resistances of 7211 and 7281, both on the same day today, and is now knocking at the resistance level of 7300. Relative Strength Index is trending up (bullish) but the index is still a bit far from being overbought. Support levels are at 7050 and 6740.

Best2Invest has lighten up at this level and is now holding 50% cash and 50% stocks — mostly dividend-yielding. Preparing to buy on pullback near the support level of 7050. If the index breaks the resistance of 7300 next week, Best2Invest will take further profits on index stocks and begin rotating to undervalued second-liners.