22-MAR: A Bullish (BEL) Is Ringing

Chart via laidtrades.com

Haven’t blogging much because, a) Busy-busyhan, b) tamad, c) daming work, d) bagsak stocks/protfolio ko.

Today was different, 50% of my portfolio is in BEL which I purchased last 18-JAN of this year at an ave of P6.06. After it peaked at P6.490 during January, it was downhill from there. Since that time, I was buying it at it’s low to average down, I didn’t want to cut loss. My running average up to today is P5.50. Today, things seem to be bright for BEL again when it broke out of it’s bearish pattern and is headed to it’s bullish state. With volume to support today’s move and the MACD just turning positive, it is “likely” (sana po) that BEL will continue to move higher in the coming days. Note that the RSI is also above 50 but below 70, meaning that it has gained some upward momentum but is not yet overbought.

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