The main index has hit new intraday highs more than 20 times since January of this year and in terms of closing level, has touched 9 fresh high already. Intraday, hit a new high at 4,997.04 points surpassing previous record intraday level of 4,966.94 points last February 20 of this year.
Last Monday(2/27/12), Stocks close lower for 3 consecutive days as investors took profit anew this time on concern of global oil price surge amid rising tension in the Gulf region. PSEi shed 93.71 points to close at 4,799.29, near it support level of 4750 where the resistance of the trading range is set. Should it falls further, the next support level is peg at 4625.
There will be a continuation of profit taking activity.
For the meantime, market is expected to consolidate, as players might go on a wait and see mode.
Make Smart Investment !
Tuesday, February 28, 2012
Tuesday, February 7, 2012
PSE rides in a New High
The Philippine Stock index has reached a new all time high and was able to break through 4800 to create a new high at 4822 before ending the the week at 4758. We can see the bullishness in the market.There are some stocks getting ripe for the picking and we should not let this opportunies pass us.
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