Dow Jones finished green, RP's 7.2% GDP's effect finally realized, and it's Chinese New Year. PHISIX have found more reasons to finally get up and it did. PHISIX went up by 60.58 points (1.58%) to finish at 3891.07 for the day. Sounds and looks really good.
However, the graph below shows that PHISIX is resting on some support. Apparently, it will take at least a buy or two to send PHISIX back up to it's resistance (hopefully it won't break it's support) so a buying spree is highly probable in the next day or until the weekend.
Three possible scenarios:
1.) PHISIX will continue to go green and break it's mini resistance in days to come. This is what everybody wants.
2.) PHISIX will continue the trend.
3.) Whipsaw. PHISIX will go down setting up a bull trap for a number of buyers.
Summing it all up, I still don't see any good reason to invest at this point but it might be a good set up for a swing trade. Selling might persist in a week or more before the big rebound so as always, caveat.
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