After 5 months of decline, PLDT is now out of the downtrend and now starting to get bullish!
As you can see from the charts, PDLT started to reverse and bottom out last December and started its ascent steadily while breaking past the downtrend yesterday (February 4, 2015) with much force!
What’s next for TEL?
Target prices that TEL may jump up to are as follows: 3,120, 3,270, and 3,458. If TEL breaks past each of those it can go even higher and start a longer term uptrend.
Requirements to stay bullish?
TEL must stay above 3,000. As that is where the biggest buying presence can now be found. If not it would just show that sellers still dominate the market and TEL may drop to 2,900 – 2,950 levels.
What else should you consider?
PLDT normally goes up at the start of the year as most investors are anticipating the dividend payout that it gives out every March. Because of this a drop maybe expected right after the ex-date of the stock. So as an investor you better have your game plan on whether you are in it to hold the stock or just there to trade it and make a buck.
Looking at TEL for the past 3 years we could see that the stock is well and good in a steady uptrend and may push to break new highs if the uptrend floursihes!
I hope this anaylsis of PLDT helps you in your trades! God bless you and may February be your best trading month yet! It is one of my desires that you use the stock market as a tool to make your dreams of financial freedom come to pass!
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*Charts via chart nexus