“We wish to see a higher-low base to keep its general rally in place,” Barredo said.
“We should look for technical openings for the economic reopening. If an ECQ shock comes, take the chance to slowly buy into transitory weakness,” he said. Barredo’s preferred support level was at 6,350 but the next possible support levels were seen at 6,150 to 6,020. All counters ended higher, led by the financial, mining/oil and property counters, which all rose by over 2 percent.Value turnover for the day remained thin at P4.89 billion compared to over P8 billion in average since the start of the year.For the second trading session, there was net foreign buying although still at a modest level of P108.49 million.
ICTSI and Jollibee both gained by close to 4 percent, while SM Investments and Metrobank added over 2 percent.Ayala Corp. and Meralco rose by over 1 percent, while BPI, JG Summit, LTG and Metro Pacific both rose by less than 1 percent.Notable gainers outside the PSEi included Semirara, which surged by 6.98 percent, while AC Energy and Monde Nissin gained 3.36 percent and 1.49 percent, respectively.