I mentioned on a previous post that MAXS got the highest number of votes in our current Stocks By Requests session. Now I am posting the 2nd most requested stock, which happens to be EEI. EEI hasn’t been talked about much and hasn’t been pretty much under the radar for sometime. But that isn’t the case this 2017! Interested on what happened and what could still happen? Read more.
Catch me in my live training events! (quick plug)
Here are the first events for the year! I will give you an update on our live sessions on UAE, Qatar and Iloilo in the next few weeks! The heart of why I do this seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! This is my passion and this is what I want to do over and over! To bring more consumers to investors! We will be teaching different techniques from how to select the right stocks up to how to find the perfect timing in buying and selling stocks.
From a trend perspective
Looking at the prevailing trend, EEI broke out from the downtrend last December 2016. After escaping the downtrend the stock started to form a base from 6 – 6.4. For investors that would have been a good range to accumulate the stock.
What’s happening now?
After breaking out of the downtrend and forming a base, the stock started to breakout of even more resistances. The fact that it significantly broke out of the 6.4, 7.1 and 7.4 resistances show that the bulls are now pretty much in control.
If you are a position trader
Hold your position. As the stock just turned bullish 2 trading days ago, your goal now is to maximize your gains and ride the trend. I will never stop saying this, the trend is your friend and now that the trend favors buyers ride it to the best of your abilities.
The stock will remain bullish as long as it stays above 7.5, so as long as that price range holds you don’t need to sell the stock yet.
If you are a quick trader
The breakout from 7.75 could bring the stock to the next possible target price of 8.55. Should the stock fail to go above 8.55 you may now take profits as we could see a possible reversal of the stock at that point. However, if the stock breaks out of 8.55 also, hold your positions first as the stock now go to 9.75.
For your reference
As what I always say in my seminars. Please use this post as reference but at the end of the day you should chart and draw your own entry and exit point, as the best way to make money in the market is if you follow your own conviction. God bless you and may thing week be your best trading week yet!
This is aimed to help investors have a holistic sense on how they can grow, maximize, and preserve their wealth!(Stock Smarts Book 4 is also coming this year) I also feature other books in my website with authors that I respect which have different expertise in Finance, Business, Investing and everything else in between.
For more details and to order: Marvin Germo Book Orders