Trader's Logbook

Looks like SMPH is losing steam based on a mid term outlook. As we can see the 20-day SMA continued to move below the 100-day SMA and price is currently being resisted at 200-day SMA. Price is also having a hard time going up the 50% Fibonacci Retracement level. With the latest candlestick formation, bearish [...]

MER has been trading at 38.2% Fibonacci Retracement level for the past few days after it fell last week by a total of 11.61%. Is it the calm after the storm or 100-day SMA is really strong enough to hold the price from coming down? Or we are waiting for the news about MVP buying [...]

Looks like a familiar move and candlestick for PGOLD. Haven’t we seen this just few trading days ago? Will PGOLD follow the trend? Our candlestick today is a Hanging Man and has a bearish sentiment. This type of candlestick is not a strong reversal one so we need to see a large red candlestick tomorrow [...]

We have been anticipating TA to move within the channel it is creating since few weeks ago. Lately we said to Be patient, TA may not touch lower slope right away. As of now have seen that 100-day SMA line is supporting the price. IS TA going to change the trend and head to create [...]

JGS seemed to have found its strong support at 61.8% Fibonacci Retracement level and 200-day SMA line. Have we just touched the bottom and now ready to bounce high and reach the summit? Reaching the summit is not an easy task. We might have a strong resistance at 38.2% Fibonacci Retracement level where 100-day SMA [...]

JFC came back after the sharp decline last week where it drop by 8.77% in 1 day. Currently, it almost recovered from that drop. Price went past the 23.6% Fibonacci Retracement level which was the resistance line yesterday. Today it close above it which turns the line into our new support. Interestingly there is a [...]

Looks like PGOLD is decided to go up. But will it continue? Its interesting to note that as of this time PGOLD has reached the projected upper slope. If in case this will be the trend that PGOLD will follow, then we might see a retrace in price. In case the support at 38.2% Fibonacci [...]

Philippine Stock Exchange Index is up by 179.36 points or 2.83% to close at 6,518.77 Is this bullish enough? Blue chips continue to go up. We have noticed some mining stocks going up as well like LC/LCB. PGOLD and COSCO continue to go up as well. On the other hand CMT continue to fall. This [...]

MEG is up by 2.59% to continue its ascend since last Friday. Is it the reversal point for MEG? I think the Harami last Friday has a confirmation but not that strong. Lesser volume today than that of last Friday but still we are optimistic that at least this may go sideways with resistance around [...]

BDO is having a hard time taking off. Went up past 80 but retraces and close at 79.95% Still resting at the 50% Fibonacci Retracement level with backup support at 200-day SMA line. Some may try to test buy at this level but just be careful as it may fall hard to 70 and below [...]

PGOLD avoids entering into bearish level as it continue to bounce from 200-day SMA line. At the closing, PGOLD got another 2% advance. Is it going to be a true reversal for PGOLD or we will still have some dips soon? While it is good for this stock to go up I am speculating a [...]

Our index finished with 97.15 points or 1.56% to close at 6,339.41 Are we in a reversal now? I think we still need to wait for a while. CMT take the hardest blow with -18.75% decline from last trade’s price. We have seen DNL to be quite strong today after falling to 7.20 it recovered. [...]

After we saw TA having a problem with the resistance line (TA retraces; resistance looks very strong for now) it fell by 7.08% but followed by a positive one the next day. Looks like the support at 38.2% Fibonacci Retracement level is holding the price not to go down further at this point. Those who [...]

When TEL touched the 38.2% Fibonacci Retracement level with the 100-day SMA backup support I speculated it is already the bottom (Big guy TEL about to reverse?). Although it rallied by 5% the next day, the bullishness of TEL wasn’t sustained. After the rise, it fell by a total of 10% within two days breaking [...]

While BLOOM may have some price spikes, long term may not be good for BLOOM as of this time. Both 100 and 200-day SMAs have been hovering above the 20-day SMA. Currently trying to break from resistance at 61.8% Fibonacci Retracement level but we can’t see any bullish formation as of this time. It may [...]

PGOLD bounce last Friday and close at 34.90 or 2.95% from previous price. The price action creates a Harami Pattern which is a reversal pattern but not a strong one. While this development could mean light at the end of the tunnel, we notice that 20-day SMA crosses the 100-day SMA which could mean bearish [...]

MER showed some muscles last Friday after successive falls but is it enough for the bulls to turn the table around? Or it was just a fire exit or dead cat bounce? Current formation show a low reliability Harami pattern. Basically what Harami means is that the bearish power is diminishing as shown by the [...]

Our index was spared last Friday into going bearish. It gaps up at the opening from previous closing price and shoot up to 200+ points but in the afternoon it started to weakened as it retraces its way and close with 128.18 points. Candlestick formation showed a Harami. This is not a strong reversal formation [...]

Breaking support after support, we thought that 38.2% Fibonacci Retracement level will hold for possible sideways but instead price went down not just a small points but a staggering 442.57 points or 6.75% Will there be another worse scenario to experience in the coming days or this is the bottom? Today we have our 200-day [...]

On a bullish sentiment, VMC could easily bounce from where it is now but with our bearish market, bounces seems to be too hard and very risky. For those who would like to test VMC just be careful. If you look at the chart, the price is currently on the lower slope. We have monitored [...]