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Dow Jones & PSEi Market Analysis

The document provides recommendations and analysis for several technology and market indices. For the Dow Jones, it recommends a range trade with support between 23,660-23,360 and resistance from 24,593-26,600. For the Philippines' PSEi, it recommends selling into rallies or possible range trades, with support at 7,500-7,200 and resistance at 7,800-8,070. Similarly for the US iShares MSCI Philippines ETF (EPHE), it recommends selling into rallies or range trades, with support at 32.20-32.00 and resistance at 34.40-34.70. For the PLDT-US stock (PHI), recommendations are to sell

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78 views4 pages

Dow Jones & PSEi Market Analysis

The document provides recommendations and analysis for several technology and market indices. For the Dow Jones, it recommends a range trade with support between 23,660-23,360 and resistance from 24,593-26,600. For the Philippines' PSEi, it recommends selling into rallies or possible range trades, with support at 7,500-7,200 and resistance at 7,800-8,070. Similarly for the US iShares MSCI Philippines ETF (EPHE), it recommends selling into rallies or range trades, with support at 32.20-32.00 and resistance at 34.40-34.70. For the PLDT-US stock (PHI), recommendations are to sell

Uploaded by

JM Cr
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Tech Spotlight --- Page 1

US: Dow Jones


Recommendaton: Range Trade
Support: 23,660 – 23,360 Resistance: 24,593 -26,600
• The Dow closed the week lower, as prices rallied afer
startng the week deep in the red.
• Prices stll look to be in a larger range for the meantme, as
volatlity contnues to present itself.
• Earnings results were beter than expected for most of the
blue chips for the week, allowing the market to rally over
the last two days.
• Expect prices contnue to create a larger range at this stage.
• 200 EMA sits at 23,700, which contnues to be the primary
support level.
• Resistance is contnues to be seen at 24,593 and 26,600.
Tech Spotlight --- Page 2

Philippines: PSEi
Recommendaton: Sell into a rally (possible range trade)
Support: 7,500-7,200 Resistance: 7,800 – 8,070
• The PSEi fnished the week unchanged afer collapsing in
the early days of trading.
• 7,800 now becomes the frst level of resistance, as this was
the previous level of support.
• Next support level is seen at 7,500 to 7,400 based on Fibo
retracement estmates.
• Its downtrend remains and now drives us to wait for a
basing patern that can then weave into a B-wave recovery
• Although a possible early buy may be atempted, it may be
beter to run this through a two (or three) step buying
program (for a range trade) during its retest atempts
Tech Spotlight --- Page 3

US iShares MSCI Philippines: EPHE


Recommendaton: Sell into a rally (possible range trade)
Support: 32.20 - 32.00 Resistance: 34.40 – 34.70
• EPHE rallied signifcantly for the week, as it was able to
erase the defcit over the past week.
• $32.00 level was able to hold, contnuing to create a large
downtrend channel.
• As of now its down trend remains which could keep open
the need for an appropriate basing patern or a support
retest
• Recall that recent oversold levels could conspire to show
some contnuing recovery acton – normally a few rally
swings may be seen before a more lively B-wave is
introduced
• Next Support sits closer to $32.20 then $32.00
Tech Spotlight --- Page 4

PLDT-US (PHI)
Recommendaton: Sell into a rally or range trade
Support: 26.00 – 25.50 Resistance: 28.00 – 29.00
• PLDT-US showed some strength this week, as prices rallied
$1.50 closing at 27.59.
• Prices contnue to create a large downtrend channel. Expect
resistance to be seen near the range high at 28.00.
• We maintain a sell or lighten recommendaton into rallies
given it stll presents a declining trend; there is an opton to
range trade the reactve channel but do so only with
guarded acton
• Adjusted support estmates place its next demand zones at
$26.00 - $25.50.

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