COL Financial sets PSEi target at 8,400

COL Financial Group expects the PSEi to reach 8,400 by year-end due to economic recovery.

First Vice-President April Lee-Tan noted that while volatility may persist, investors should buy on dips.

The group's Chief Technical Analyst Juanis Barredo said the index is in a 'wave 1' rally with current and future resistance levels at 7,475 and 7,800 to 8,250 respectively.

According to an investor sentiment survey by COL Financial Investment Management, 82% of retail investors plan to increase their investments over the next three to six months despite election and virus concerns.