It’s nice to be back in Manila and after doing a string of talks in a string of days it’s nice to be back at writing and sharing my ideas to you guys.
Looking at the chart below, you can see that a relatively short term uptrend was formed last August. With one of it’s latest support prices at 7,030. After bouncing off that support range of 7,030 the next probable selling point of the market would be at 7,200 which over the past 2 trading days the market was able to beat.
If the PSEI does not hold 7,200:
We may see the market go down to around 7,030 levels again.
If the PSEI stays above 7,200:
We may expect the market now to go even higher and challenge our highest high of 7,400.
Looking at other indicators MACD is still showing that the market is bullish and that we have and that we still have an upward momentum going for us.
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 weekend ahead as you move forward towards financial freedom!
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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
- September 13th Real People. Real Business. Real Success.
- September 20th Technical Analysis: Chart Patterns and Oscillators (afternoon)
- September 20th How to Find The Perfect Timing in Buying and Selling Stocks (morning)
- September 29th Stocks Smarts: How to pick good stocks and avoid bad ones
- October 4th Associate Financial Planner Qatar 2014
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Thanks to everyone who attended Stock Smarts Conference UAE 2014! It was such a heartwarming experience to be able to sow into your lives!
*pictures via google search