As of market closing on May 29, 2020, Friday, the Philippine Stock Exchange Index (PSEi) closed at 5,838.84. It went up by 268.62 points or 4.82 percent. The advances were led by the Holdings sector (up by 6.26%) followed by the Financials sector (up by 5.36%). Only the Mining and Oil sector closed in the red zone (down by 1.24%). The total traded value closed at P20.24 billion, by which 77% was courtesy of the foreign investors. Foreign fundies registered a Net Foreign Buying worth P955.39 million. That was their biggest one-day Net Foreign Buying since February 11, 2020. Nonetheless, the deep-pocketed foreign investors remain net sellers year-to-date to the tune of more or less P6 billion. The bullish sentiment we witnessed last Friday registered two significant golden crosses. One is between the MACD and the signal line and another one between the +DMI and -DMI. The PSE Index needs to maintain its position above 5,400, which is in confluence with the 38.2% of the Up Fibonacci, to increase the likelihood of breaking the immediate resistance pegged near 5,950. Now, as far as our investment guide for our clients at Equilyst Analytics is concerned, 18 of 30 Philippine blue-chip stocks got a bullish 10SMACD and bullish Momentum Power Indicator. Of the 18 filtered blue-chip stocks, 2 got a bullish True Market Sentiment while the 8 and another 8 got a bearish and neutral True Market Sentiment ratings, respectively. If your trailing stop remains intact for any of these 18 index stocks that got a bullish 10SMACD and bullish Momentum Power Indicator, and if you want to top up, you may do so within the Dominant Range indicated on the INVESTORS tab of your account. Top up in tranches and not in one go. [continue reading in the comments] #StockMarket #EquilystAnalytics#JayceeDeGuzman #PhilippineStockMarket #PhilippineStockExchange #Equilyst https://www.instagram.com/p/CA0HufYHEf9/?igshid=xzaus9a2b54x
