The PSEI is now bouncing off a support at 7,186. We are seeing a more bullish sentiment for the market over the short term and will see if it will try to attack and go for 7,360.
Looking a the chart above the PSEI is forming an ascending triangle with the resistance pegged at 7,360. The MACD is pretty much bullish and is showing an upward push.
What would it take for the PSEI to hit 7,400?
As stated above check out 7,360. If that is broken 7,400 is well in range. Everything for the short term now hinges at 7,360.
What’s next after 7,400?
If the market hits 7,400 and stays and holds that level the target price for the PSEI would be 7,600 for the short to mid term.
What if the market fails to break 7,360?
If selling pressure is prevalent at 7,360 the market may drop agian to 7,200. You may use 7,200 also as a staging point for you to buy agian. Should it go lower and correct.
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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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
- November 22nd Winning Strategies for Investing Singapore
- November 22nd Associate Financial Planner Singapore 2014
- November 27th Modern Technical Analysis: Chart Patterns and Oscillators
- November 28th Stock Smarts Davao – Basics, Fundamentals, and Technicals
- December 5th Stock Smarts Singapore 2014 (Basic) – Day 1
- December 6th Stock Smarts Singapore 2014 (Technical Analysis) – Day 2
- December 13th Market Outlook and the Top 10 Stocks for 2015!
For inquiries, registration, and payments email: stocksmartsconsulting@gmail.com
Thank you BPI Trade for having me for your year end event! I had such an amazing time! It’s time for more and more people to have winning strategies in stocks!
*Video via ANC On The Money
*Pictures via google search
*Charts via Chart Nexus
