Trader's Logbook

Another test at the 23.6% Fibonacci Retracement level (support line) for BPI. This line has been tested a couple of times already. Will it give way to the bears this time or will it stay strong? Earnings report at 05/02/2013 is fast approaching. This could be anybody’s ball game for now but we’ll definitely monitor [...]

BPI formed a Harami pattern after the price stayed inside the previous candlestick’s real body. Although it has a low reliability for trend reversal, our other indicator also says it has the good chance to rebound soon. The Harami Pattern is a sign of disparity about the stock’s health. While the price is going down [...]

Could this be a good time to enter BPI? After dropping 2.11% last friday and total of 7.09% this week, this stock is of interest to some. There was a sell down last Friday following the statement from Nomura Group saying Philippine banking stocks are overvalued (http://www.interaksyon.com/business/58491/philippine-banks-overvalued-nomura-says) Technically, the price movement of BPI is creating [...]

For those who wants to ride BPI, I think waiting to enter near support is a good idea. BPI has been going down big time since Thursday and is creating two large candlesticks. There is no sign of reversal yet but its good to speculate a bounce at its support around 102. That is our [...]

Last week we saw BPI touches its 20-day SMA BPI: are you going to bounce now? and speculated a bounce. Although it did not happen the next day at the closing, Friday’s action seem to be more promising as we see a candlestick which looks like a Hammer appears on our chart. This candlestick shows [...]

For those wanting to enter BPI this might be your chance as we see price kiss the 20-day SMA line. A bounce from this line may happen just like on its previous price movement. If we look at its recent past we see that there are many instances a bounce happened. Caveat!

Looks like there is a family trend created by BPI. Will the Doji going to follow the trend or it will do a different style this time? While general trend is upward, we see trend where a Doji at the top of the slope causes the price to go down and then touch the support. [...]

No follow up news for BPI and PNB merger and traders are left in the air of what will happen from this time forward. After BPI had a good rally last week, we might see a reversal as suggested by our candlestick today, the Long Legged Doji. This particular doji shows that there is a [...]