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Experts predict reversal of stock market downtrend

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Stock market experts are raising the likelihood of a rally in the Philippine Stock Exchange index over the next 12 months due to attractive valuations coupled with favorable technical indicators. | miguelrcamusINQ /PDI

Ron Acoba, co-founder and chief investment strategist at stocks research platform Trading Edge Training and Consultancy, said chart-based technical trading indicators were showing some positive signals for the PSEi.

While technical analysis is based on several probabilities and outcomes, Acoba said pullbacks or further consolidation for the PSEi is “an opportunity to start loading in the market”. Meanwhile, First Metro-DBS noted that Philippine stocks offered greater value relative to so-called risk-free assets such as government bonds.

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