Price Update: PSEI marks another new record high for the opening 2nd quarter trading at 7660 led by Industrial, Holdings and Mining / Oil companies. By staying above these levels is a clear indication that the PSEI have welcomed back a considerable number of Foreign Investments while local investors have boosted transactions encouraged by the recent upswing of the market sectors especially with Financials staying above 1850 levels with Holdings trading above 7500 MA at 7679. An obvious pullback of prices from their respective highs particularly on the PSEI is expected being a Friday end of the week's trading and profit-taking trade sequence as a result of two consecutive up days.
Short- Recap: The significant 'Price & Trend Reversal' from March 10, 2017 have been driven by 'Price Adjustment & Weighted Distribution' two key factors identified with a dramatic decline in prices. And with stocks that had a corresponding higher volumes on the close which can be viewed as a Volume Reversal thereafter. Where the succeeding opening price levels were far above from the previous closing price.
The importance of knowing where all these prices came from is a significant part of the trading equation.
Recap: PSEI Reference Chart as of March 10, 2017
A Heads-up Before the Rally
Where the succeeding opening price levels were far above from the previous closing price. With that said, the market sentiments surrounding these prices states that not a lot of analyst have been unable to take advantage of the rally due to the rapid price action at the closing & opening bell from March 10 -to-11, 2017. With a exceptions, after learning the revised higher GDP figures which provided the additional lift for the PSEI to pass the 7500 and beyond 7600.
NOTE: Great to find 'Alternative Markets' from a US Trading break at this time.
In observance of the Lenten season and MegaTrade101's quarterly trading break, we would like to wish everyone a 'Happy Easter Celebration'. That Easter egg could still be gold adding to your nest egg / portfolio. It's just how one looks at it.
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