PSE Index as of January 22, 2021. The Philippine Stock Exchange Index (PSEi) closed the week at 7,045.83, shedding 2.7% from the previous week’s close of 7,238.46 and down in the red 1.3% on a year-to-date basis.
Year-to-date index-stock gainers are still led by FGEN (+9.8%), followed by ICT (+4.0%), BDO (+4.0%), TEL (+3.7%), and JGS (+1.9%). Laggards are: AEV (-8.0%), AGI (-7.5%), PGOLD (-6.2%), DMC (-5.8%), and GTCAP (-5.1%). See also Blue Chips.
The PSE Index now stands at an RSI (relative strength index) of 42.52, which is now in the bearish area and is currently trending down. 200-day simple moving average is at 6,222 while the 20-day simple moving average is at 7,097.
Immediate resistance level is at 7,120/7,140 while immediate support is at the psychological support level of 7,000. Should this support be breached, we might see the index test the support level of 6,740 in the coming weeks.