“Immediate target for a continued rally would be at the index’s recent high of 6,500 to 6,600 as shown in the fibo extension in the chart, then secondary resistance at the full fibo extension level at 7,000 to 7,200,” the brokerage said.The holding firm, service and property counters all rose by less than 1 percent.Value turnover for the day amounted to P7.38 billion. There was meager net foreign buying of P59.32 million.
Despite the PSEi’s slight gain, market breadth was negative. There were 103 decliners that edged out 92 advancers, while 45 stocks were unchanged.Security bank and SM Prime both advanced by over 1 percent, while ICTSI, Jollibee, Ayala Land and Puregold all rose by less than 1 percent.On the other hand, BPI fell by 2.13 percent while Ayala Corp. and GT Capital both lost over 1 percent.
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