PSEI Update: Dec 15, 2014 – What's Next? | Marvin Germo

PSEI Update: Dec 15, 2014 – What’s Next?

By: Marvin Germo | December 15, 2014

After a strong showing of the market last friday, what’s next for the PSEI?

PSE Dec 14 2014

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!

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