Market Recap: PSEi soared ▲6,655.37 | March 03, 2023

Approaching the end of the first quarter of 2023, the Philippine Stock Exchange (PSE) index continues to face a downtrend, as indicated by technical analysis. The overall trend for the PSE index is currently in a bearish phase, with the Moving Average (MA) 20-period indicating a downward trajectory. Despite this, our view is to "Buy on Dips," as we expect a potential rebound in the short term.

As of the first week of March 2023, the PSE index has been on a rollercoaster ride, with sudden spikes followed by quick dips. However, the trend seems to be consolidating at the moment, which suggests that the market is seeking a stable equilibrium point.

The Average Directional Index (ADX) also indicates a strong trend, which further supports the ongoing downtrend. The resistance level of the PSE index is currently at 6,750.00, while the support level is at 6,350.00.

While we cannot predict the exact movements of the PSE index, we believe that the current downtrend presents an opportunity for savvy investors to take advantage of potential dips in the market. As the saying goes, "Buy low, sell high."

The Philippine economy is still poised for growth, and the ongoing infrastructure projects and favorable investment climate will continue to attract local and foreign investors. With this in mind, we believe that the current downtrend is a temporary setback that presents an opportunity for investors to accumulate stocks at lower prices.

In conclusion, despite the current downtrend in the PSE index, our view is to "Buy on Dips." The market's trend remains strong, but we believe that a potential rebound in the short term may present an opportunity for investors to earn profits. As always, it is crucial to conduct proper due diligence and seek the advice of a financial professional before making any investment decisions.

Source: 2Trade Market Updates

Disclaimer: Any information or analysis I provide is solely for educational and informational purposes and should not be considered as a substitute for professional advice. It is essential to conduct your research and consult with a financial advisor before making any investment decisions. The financial market is volatile, and past performance is not a guarantee of future results. Any investment involves risks, including the potential loss of capital. Therefore, it is important to understand your risk tolerance and investment objectives before making any investment decisions.