Latest Breaking News On - Manila online stockbroker col financial group expects the philippine stock exchange index psei to recover 7 - Page 1 : comparemela.com

MANILA - Online stockbroker COL Financial Group expects the Philippine Stock Exchange index (PSEi) to recover to 7,500 to 8,250 level this year after reconfiguring into a corrective consolidation. In a press briefing Tuesday, COL chief technical analyst Juanis Barredo said the PSEi has seen a viable bottom and now moving on its first major rally off such a base. "Given its stretchiness from its October-January rebound, we may need to prepare for some corrective but temporary maneuvering soon. There is still a chance though that the rally could extend perhaps until mid-February -which may be a good reason to stay fairly positioned, not to mention that the worst seems to be over," he said. Barredo said the PSEi was recently overbought when it reached price channel highs of 7,100 to 7,200. "This could drive some interim need to pull back to range lows or support. We see this first at 6,850-6,650 then 6,400-6,200. Accumulate into pullbacks as we look to eventually target ind

United statesBangko sentralJuanis barredoFinancial groupPhilippine stock exchangeApril lynn tanFederal reserveManila online stockbroker col financial group expects the philippine stock exchange index psei to recover 7500 to 8250 level this year after reconfiguring intoa corrective consolidation ina press briefing tuesdayOl chief technical analyst juanis barredo said the psei has seena viable bottom and now moving on its first major rally off sucha base quot given stretchiness from october january reboundE may need to prepare for some corrective but temporary maneuvering soon there is stilla chance though that the rally could extend perhaps until mid february which bea good reason stay fairly positionedOt to mention that the worst seems be overUot he said barredo the psei was recently overbought when it reached price channel highs of 7100 to 7200 quot this could drive some interim need to pull back range lows or support we see first at 6