After a strong showing of the market last friday, what’s next for the PSEI?
Looking at the chart above, it shows that the PSEI bounced back from a support range at 7,020. It is now working within the trading range of 7,020 to around 7,345.
Here are some scenario’s that may happen in the market:
What are possible selling areas?
We may expect some selling at 7,280 and 7,345. If the market drops after hitting those prices it may retrace and drop back to 7,020.
What will bring the stock back into a short term uptrend?
Then the market has to go up and break 7,345 and eventually break 7,400 with much conviction and volume. If not we may just see the market just range again and just go back to 7,020.
What if the market drops and 7,020 does not hold??
The next possible support where the market could drop is at 6,890.
I hope these charts help you find a reference point in your trades and would help you know when is the best time to come in and out when it comes to your investments. My desire is to see you win in the stock market repeatedly over the long term and that you may find your own winning strategy that will make you profitable in the stock market! God bless you and have a great week ahead as you move forward towards financial freedom!
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
- January 31st Stock Smarts Bascis: Manila
- January 31st How to Find The Perfect Timing in Buying and Selling Stocks (afternoon)
- February 7th Stock Smarts Cebu: Technical Analysis
- February 12th Technical Analysis: Chart Patterns and Oscillators (Evening Session)
- February 26th Fundamental Analysis: How to pick good stocks and avoid bad ones (Evening Session)
For inquiries, registration, and payments email: firstname.lastname@example.org
Thanks to everyone who attended Stock Smarts: Top 10 Stocks for 2015!