The PSE Index – 17 January, 2012
The Philippine stock market closed in a positive territory after two days of profit taking. The PSEi added 63.84 points to close at 4,642.76. Gainers outnumbered losers, 113 vs. 59; while 37 issues were unchanged. We might be breaking a new high tomorrow, 18 January, as the US stocks jump today after Chinese data fueled the belief the government may move to stimulate growth. The next psychological resistance for the PSE index is 4,700 points.
Speculative Stocks – WIN and EVER
Wellex Industries Inc. (WIN) – after closing to its previous high and an above average volume, WIN, might continue its upward movement this week. Based from the pivot points, price targets will be at R1=0.42, R2=0.45 and R3=0.50. Support is at 0.25.
Ever Gotesco (EVER) – EVER is now showing signs of bullishness after breaking out of the kumo or cloud and increasing volume for the past 3 days. We might expect a near term resistance at 0.20. If you’d take a look on its previous high at 0.30, this stock has still lots of potential upside.
The stocks I’ve mentioned above are highly speculative but with a great potential, it’s up to you if you want to take the risk, just make sure you minimize it. As for me, I just love to trade volatile and liquid stocks. Good luck and happy trading. 
