We’ve been talking about SSI, WLCON and SMPH over the past few days and it’s about time for more consumption stocks to take centerstage! It was fun making this video as I had no plans making any today but it was just a spur of a moment kind of thing which I am glad that I followed my instincts as I will always do videos and content to help you learn the proper rudiments of trading and investing.
I really believe more and more Filipinos need to invest the right way and I sincerely hope that this helps you and it brings you closer to your dreams of financial freedom. God bless you and I really believe that your best days have yet to come!
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The stock just broke out from a very strong resistance at 4.15 with a large amount of volume and conviction accompanying it. This signalled a reversal from bearish to bullish, signifying that the bulls are back!
For quick traders,
The three successive breakouts have given the stock more momentum to push higher. Should the breakout progress the next target price could be pegged at 4.7. If it fails to breakout from that quick traders may consider to take profits. However if the stock breaks out of 4.7, it’s now time to adjust you target price to sell at 5. If it breaks out of 5, then I am happy to tell you that it now has the ability to challenge 5.7 again.
For position traders
Because of the reversal this would be a good time for you to position and add to your base. I will give you updates later on should there be a reversal downward already and you should sell. In the meantime if you are a position trader buy the stock with confidence as long as the support at 4.15 holds. If the stock drops below that you must sell.