PSE Update: February 3, 2015 – Will the Love Month Bring the Higher? | Marvin Germo

PSE Update: February 3, 2015 – Will the Love Month Bring the Higher?

By: Marvin Germo | February 2, 2015

The PSEI started January with a bang!  The market openned up with almost a 6% gain for the 1st month of the year, entering February on a more positive note than ever!  Congrautlations to owners of MAXS, SSI, DNL and a lot more consumption stocks!  SMPH and CNPF has also just started to breakout!

PSEI Feb 2 2015

Where is the market now?

Looking at the chart above you could see that the market has somehow stalled at around 7,690 range and after it hit an intraday high of 7,737.  Sellers have prevented the PSEI to move above this point for the past 4 trading days.

If the PSEI fails to break and go above 7,690?

We could possibly see the PSE drop to 7,515 over the short term to around  7,340 depending on how much selling pressure is there.

If the PSEI breaks past 7,690?

7,800 is still again in sight and is very much achievable over the short term.

Oscillators are still pointing bullishness in the market, though the market is still at overbought levels and may still be subject to profit taking.

Regardless of where you are in your positions, the best place for you to be is for you to stick with your plan!  You always win when you know what you are doing and you have your own conviction!  God bless you and have a great start to February!

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*Photos via google search
*Charts via chart nexus