Everything started last April 2017, when the stock broke past the long term moving average breaking past the 14 Peso level. With that the stock started to progress higher and built a base from 14 to 14.80. Something interesting happened when the stock finally broke past and stayed above 14.8 last September 2017. With that the stock fully reversed from the downtrend.
This post is dedicated to help give you a reference point on how you can create buying and selling strategy. I really hope that that the stock market helps you reach your goals of financial freedom. As my dream is to create a framework where we see more and more Filipinos profitable in the stock market.
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Stock Smarts Davao — October 20 – October 22, 2017
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Stock Smarts Manila — December 2, 3, 9, 10 & 16 , 2017
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Stock Smarts Cagayan De Oro — January 13 – January 14, 2018
Stock Smarts London, United Kingdom — January 26 – 28, 2018
1. The closest breakout was the movement from 15.70. With that the first target price you should look at is at 17.20. Should the stock fail to breakout from that level you may now take profits. This should be a quick 9.5% trade.
2. Failure to breakout from 15.70 will bring the stock back down to the support at 15.70.
3. However should the stock breakout from 17.20, the next target prices would be 18.70, 20.70 and 22.95. You may choose to sell if the stock fails to breakout from those levels.
As the stock has fully reversed from downtrend to uptrend it would be good for you as a position trader to stay with the stock until any sell signals emerge. That’s the beauty about technical analysis, it allows you to maximize your gains when the stock has reversed from the downtrend.
As of this point in time the stock will remain in the uptrend as long the support at 15.70 will hold.
Congratulations to all of you who bought at the reversal.