Wow! It’s the 3rd straight day and I’m still writing! I’m really trying to turn a new leaf and write more consistently. Again thank you so much for all your messages and emails. It’s really you guys that make me continue to do what I do. It’s just amazing to see more and more Filipinos eagerly wanting to invest! Just keep on investing and pushing forward because the more you invest and practice that better you become!
From the stocks that you have requested via social media and my website, I have selected the stocks that had the highest number of votes so far. I will try to do this poll as often as I can so I can help you in how you can create your own strategy in trading the markets. I hope you use what ever I post here as a reference on how you are suppose to do your trades but not as a official guide that you follow to the very letter. Again the best place to be in the market is when you know what you are buying and selling and decide it on your own terms. Don’t just rely on me, rely on your own judgement and strategy. Before I begin with the analysis, I’d just like to thank those who signed up for our seminar this Saturday on how you can use charts to trade and invest, I’m looking forward to see you all!
Here’s what we have for today:
GLO – Globe Telecoms
The overall trend of the stock is still relatively bearish with the biggest set of sellers waiting at 2,242.
For those who want to trade the stock on a faster basis you may consider trading the 1,822 – 2,031 range. This represents a 10.9% gain trade. Buy as close as you can to 1,822 and sell as it goes close to 2,031. Should it breakout from 2,031, the next target would be 2,242. You may hold the stock this time and see if the selling is strong enough to bring the stock down. If it doesn’t get overwhelmed by the sellers and somehow the stock manages to breakout, then we now have GLO back to being bullish after dropping and turing the wrong way last November 2015.
MEG is still bearish for the short, mid and long term. So for those wanting to trade and are looking for the reversals, we may still need to look for further buy signals from the chart in the next few days or weeks.
One thing is evident though, the stock is now near the short term resistance, which means we may expect some sellling at around 3.6 levels. For those who bought at 3.11, you may consider to take profits from the stock if it fails to go above 3.6. Not bad, considering that would already give you a 13.7% gain from your trade.
Another thing to watch out for is if the stock goes above and breaks out of 3.6, then this is where you would see MEG to have a shot at going back to 4.1. If it fails to do so, I believe the stock will just drop and go back to 3.1 levels again.
MAXS – MAXS Group
Similar to the stocks mentioned above this stock is still bearish for the long term. However basing it from the actions from the past few days it seems that the stock has found a landing spot near 13.2 where all the selling was consumed.
Now from the charts it looks that the stock is bouncing off that support range and has broken out of the resistance at 15. Should MAXS stay above 15, the next target price of the stock could be at 16.8 and 17.4. I would watch out for those price ranges if I would like to consider selling.
However to every investment there is a risk involved, since the prevailing trend for the stock is still bearish, should it fail to stay above 15, the stock may go back again to 13. Trade with the end in mind way before you buy the stock.
DD – Double Dragon
In contrast to GLO, MEG, and MAXS. DD is bullish for the short, mid and long term. If you’d position just now because of the breakout at 22.8 you may want to hold on to the stock, again provided that it stays above the 22.8 level. You may use this price range as a cut loss point too if the stock fails to hold at this level but if it does hold it may have the potential to have another run again. Will it move the same as before? No one knows. What we do know is the the stock right now is bullish and a bullish stock will just continue to go up until proven otherwise.
To people doing quick trades, DD at 23,7 is now at a resistance. If you bought it at the support (at 20) and the stock faces some resistance you may consider to take profits already. This is already a handsome 18% gain from the 20 peso support level. However if the stock breaks out from 23.66, the next target price of the stock will now be pegged at 25.5.
SSI – SSI Group
SSI was one of the the most battered stocks for 2015 and is one of the my most feared establishments that I enter into when I am with my wife (If you are married you know what I mean). Mind you the stock is into retail & consumption and our economy is still consumption driven with a lot of millennials, BPO professionals, and OFW remittances all supporting the luxury items that this company has to offer. With that, given that the company has been battered massively the only question that remains is if it will continue to fall or will it now start to reverse?
Looking at the chart, you could see that the stock hit rock bottom at 2.44 but as of late it has broken out of the slump and is now on the backs of investor buying levels trying to support the price of the stock at 3.2
If I we’re invested I would watch out for 3.2 and see if the the stock should hold and stay at this level. If not there’s a big chance that the stock can drop and go back to 2.4. Should 3.2 not hold it would be better to sell. However on the bright side should SSI hold and stay above 3.2, the stock now has a new target price and has the potential to move up again to 4.2.
That’s it for the day! Allow me to write more again in the next few days! I do hope this helps you in your investments. I really desire you to be financially free and have a better future for you and your family. God bless you all and may you improve on your trades as the days go by!
I’m excited to share my latest book, Where Should You Invest? This will answer one of the biggest questions on the what, where and when you should invest on. I will also tackle the concept that there are certain investments that work well with others and some investments that don’t work well at a certain investment phases.
This is aimed to help investors have a holistic sense on how they can grow, maximize, and preserve their wealth!(Stock Smarts Book 4 is also coming this year)
To order: http://goo.gl/forms/AaciOAg92H