PSEi's possible false breakdown, or just maybe rally from the support 9-2-2018

PSEi almost reached 6950 to 7000 bottom support, then bounced back high!

What are the foreigners thinking? Is it bluff/false breakdown or they just bought back what they sold? let me cut them by showing some Top 30 stocks

Some below did a CLEAR breakdown (break below support levels), and some within the day rallied above the level the support they broke, which what we call FALSE breakdown.

Some stocks below did not make it, some made the FALSE breakdown.

Which to follow? Let us see in the days to come, one thing is for sure, we may revisit 7500-7550 resistance level soon.

PSEi updates: not able to make a good bullish head and shoulder pattern 9-17-2018

Updates on the possible Bullish head and shoulder pattern:

PSEi was able to revisit near 8000, the neckline of the possible bullish HnS pattern.

Upon reviewing daily trades, it was somewhat weak, I sold my positions around 7900-8000 and left the HnS pattern possibility. 700 pts rally reward (8700 intial target)

When PSEi came down day by day after reaching 8000, I concluded that I did the right thing.

Well, HnS is possible as of now 9-17-2018. But when it reaches near near 7200 or even as low as 7000, I believe, downtrend will resume,and no HnS pattern is in place.

For now, previous low of 6930-7000 is the probable area of support.

ABS-CBN Seriously very cheap 9-17-2018

Good Day!

I still cannot believe one of our top news/broadcasting company ABS-CBN, is recently making new low after a nice 21 to 25 rally.

Downtrend is still sloping very hard, and today it did not hold the previous low which is around 21.00

With a P/E ratio of 6.5 (Bloomberg), it is one the cheapest broadcasing company in Asia.

Also, 2019 is senatorial elections in the Philippines.

I know China and Asia are in bear market/sideways pattern, but still,fundamentals are too good, long term growth is there, consistent yearly 0.70 to 1.00 / share cash dividends.

This is a no Brainer. a good BUY.

Foreign sellers, let it be, I will catch whatever I can.

***FYI 2009YR low around 12.00