The PSEI hits another all time high! At, 7,782.57, we are just barely 17 points away for the market to hit 7,800!
Based on our update last week, if the PSEI broke past 7,690 the target to reach 7,800 is pretty much on sight! Now as of this writing the goal of 7,800 is just right around the corner. It’s such a great time to be invested in the market!
What’s next for the PSEI?
Should the market break and breach the target price of 7,800. This will validate both the breakouts at 7,400 and 7,600. This also hits the full year target of some brokerage houses and analysts.
Can the market still push higher?
Yes it still can. A market will remain bullish until proven otherwise. And as of this writing the market is still bullish and is still poised to move higher.
What will keep the PSEI higher?
The PSEI must hold 7,800 this time if it has any hopes to stay up. Volume still must be there because a market cannot and will not move up without any significant volume. If the PSEI manages to hold and stay above 7,800, the next target price for the the market could be at 8,200. This is provided that volume continues to go up and that we hold and stay at the 7,800 level.
What if the PSEI does not break or does not hold at 7,800?
A possible correction to 7,560 is possible to a medium term correction at 7,400. To balance things out, we have to consider that our market is still relatively expensive which may cause some investors to wait a bit to see if they can come in at cheaper prices.
Again congratulations to everyone invested! You are at a great start for the year! Greater days are still ahead for you! I hope more and more Filipinos start investing further! I beleive it’s time that more and moree Filipinos to participate and experience this growth because Financial Freedom is for everyone! God bless you an may you have a greater trading week ahead!
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