2018 Week 1 (18W1). Chartwise, volume today barely 780K, RSI (14) is overbought. Based on my major pullbacks and advancements record above, since 2008 there’s no major pullback recorded of more than 50% and no major advancement of more than 100%.
If the low price of 8,051.86 on 04-Dec-2017 is broken then the next support price of 6,499.00 on 23-Dec-2016 can easily be breakout and will retest the 5,562.13 level. But my question remains, it is only 59.26% on today’s high which is below a 100% major advancement that most stock market experts agreed. For me, if low price on 28th August 2013 is the bottom low, I'm expecting PSEi to hit 11,125 otherwise as low as 4,429.00 will be expected anytime soon.
To summarize, whatever the market’s direction, it should not stop the smart investor to earned decent gains.
DISCLAIMER: I am not a Certified Financial Planner nor a Financial Advisor. Expressed in this blog is my personal opinion only and should not be construed as a recommendation, an offer, or solicitation for the subscription, purchase, or sale of any securities herein mentioned.