As most of the consumption related stocks are on a rampage, PGOLD remains to be amazing as it steadily forms its uptrend as it pushes its way up. If you take a look at the chart below you would see PGOLD retrace and drop just at it trys to hit a resistance around 43 Pesos. However inspite of it dropping buyers continue to pick it up preventing the stock from falling!
What’s next for the stock?
For PGOLD to move higher it must break the resistance at 43.15. If it successfully breaks it with volume, the next stop for the stock maybe at 45 and 48 respectively.
What if it fails to break the resistance?
The stock may swing sideways and go nowhere from 43 to 41. For the stock to have a chance to go higher it must maintain and stay in course with the upward trending line.
PGOLD would be interesting to watch and monitor to see where it goes over the short term. I hope this gives you confidence in your trades!
——————————————————————————————————————————
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
- 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: stocksmartsconsulting@gmail.com
*Photos via google search