At a disclosure to the PSE today, BLOOM went into a deal to buy 12.2 hectares in Muui Island in South Korea. This move would set them up to probably develop another Casino in that area as South Korea is hyping that place up to be a gaming and entertainment zone. While investors have reacted positively with this news let’s see what the chart is telling us.
BLOOM has escaped from a downtrend that started last November 2014. Though the stock is still not out of the woods, it is now trying to form an uptrend of its own.
What needs to be broken for it to go higher?
It needs to convincinly break 13.15 with volume. If that happens, the stock could very much go to as high as 14.25. If the stock goes above 14.25 it now has a chance to go back to 15.6. Let’s see how strong the positive sentiment of this land purchase in South Korea will create for the company.
What if it fails to convincly break 13.15?
The stock could drop to either 12 or to as low as 11.5 over the short term.
Bottom line, looking at the chart BLOOM is at a much better position now than where it has been in the past few weeks. I hope this chart helps you further in your trades as you go forward and to reach your goals of financial freedom. It’s time that we see more profitable Filipinos in the stock market!
My 2nd book Stock Smarts: Winning Strategies is now out! Click the Link to Register and Order.
If you’d like to learn more how to invest in the stock market and learn how to make your money work hard for you. I’d like to invite you to our upcoming events
- January 31st Stock Smarts Bascis: Manila
- January 31st How to Find The Perfect Timing in Buying and Selling Stocks (afternoon)
- February 7th Stock Smarts Cebu: Technical Analysis
- February 12th Technical Analysis: Chart Patterns and Oscillators (Evening Session)
- February 18th Stocks vs Forex
- February 26th Fundamental Analysis: How to pick good stocks and avoid bad ones (Evening Session)
- February 28th Money Management and Stock Smarts Thailand 2015
- March 6th Stock Smarts UAE: Firm Foundation – Day 1
- March 7th Stock Smarts UAE: Technical Analysis – Day 2
- March 8th Stock Smarts UAE: Pro – Day 3
- March 20th Stock Smarts Singapore 2015 (Basic) – Day 1
- March 21st Stock Smarts Singapore 2015 [Day 2] : Technical Analysis
- March 22nd Stock Smarts Singapore 2015 [New Topics] : Portfolio Mangement, Market Outlook and Fundamental Analysis
For inquiries, registration, and payments email: firstname.lastname@example.org
*Photos via google search
*Charts via chart nexus