Trader's Logbook

EW seemed to have trouble going north at this time and instead it tests the support. Will the bulls be able to protect the border? In case bears will win over this time, our next support will be around 32-33. The support at this level was our resistance way back January of this year. So [...]

Looks like EW is done going sideways or was the spike today still considered within the consolidation range? If we will see a large green candlestick tomorrow then EW might be on for another route. Going north? Caveat!

After EW’s rally we saw fewer transactions as shown on its traded volume. Its seems that those who bought are not ready to sell yet but they are not buying either. It is a wait and see which may result to a sideways movement for this stock for a while. Support line is at 32.90 [...]

It was a sweet reward from EW for those who believe it will go up. Up by a total of 11.84% last week following the break from resistance. Notable the last two trading days before the weekend showed us a great volume. The rally also brought the RSI to 82.95 which means we are not [...]

After few days of waiting for the large green candlestick for EW (Is it time EW?) its finally here. Is this a goodbye to the Symmetrical Triangle and hello new highs? Relatively very big volume today as it close at the high of the day. Our price action ended with a White Closing Marubozu which [...]

EW is on schedule as far as bouncing from the lower slope as what we have seen last week but is it time to break from that Symmetrical Triangle or we will still see a quick dip to get others aboard before finally taking off? Take refuge at the strong support line at 23.6% Fibonacci [...]

Looking at the daily chart of EW we could see a Gravestone Doji formation. Is this the start of a bullish continuation run for EW after the headwind? For the past few days of going down, EW may bounce and reach the resistance (upper slope) soon and with some strength mustered these past few days, [...]

Will EW go further down or it hit the bottom at this point?. Looking at the chart today, it seems EW is creating a Symmetrical Triangle and today’s price hit the slope. If the support slope will not be a strong one, we still have a good support at 23.6% Fibonacci Retracement level. This level [...]

Will EW touch the 23.6% Fibonacci Retracement again before bouncing off? Price action for this past few days looks like it is heading on that direction. Adding fuel to that speculation is today’s price action which breaches the middle band of Bollinger Band going down. Looks like it will soon stay below the 20 day [...]

After the all-time high early this month and days of correction, it seems that EW is ready to start flying again. When we saw the Hammer last few days ago at 23.6% Fibonacci Retracement level, we thought that was the time we are waiting for but instead it rests on that level for a few [...]

We are looking at a Hammer candlestick today for EW. Hammers are known for its low-reliability reversal pattern thus, one should take extra careful. Price went down piercing the middle band but manage to somehow price were able to move very near to that line. If we will also look at Fibonacci Retracement level, actually [...]

A lot of traders/investors are waiting for EW to correct after it rallied for an extended period of time. Three days ago, it started to retreat. Today, it took a bigger back step which resulted in the formation of a large Black Marubozu. Normally this candlestick is regarded as a bearish continuation pattern but this [...]

EW may come face to face with its biggest hurdle. Looking at today’s chart we see a bearish formation called Dark Cloud Cover. Market was generally in an uptrend for a couple of days after breakout but today, after it jump at the opening which suggests that bulls will control the day, it suddenly went [...]

Looking good for EW after breaking from Ascending Triangle and testing the support. I think it will now fly until 25 and may experience some turbulence on that level. Candlestick suggests the bulls are still on the driver’s seat. Relax and see a movie. The ascending triangle is a bullish formation that usually forms during [...]

Yesterday we saw a breakout from Ascending Triangle on EW. Today, the price actions suggests it is testing its new support (previous resistance). Will there be more tests to come or the plane will fly next week with or without you? An Ascending Triangle is generally considered to be a continuation pattern, meaning that it [...]

EW (EAST WEST BANKING CORPORATION) It doesn’t look like a Doji in the textbook but the candlestick seems to suggest that the bulls and the bears are in an indecision state right now. Watch out tomorrow. If you look at RSI it is already quite high at 93.88 and volume is diminishing. Are the bulls [...]

EW (EAST WEST BANKING CORPORATION) made a good rally last August 2 with 3.28% increase but last Friday’s price movement was not impressive. Fewer volume and it declined 0.20% to 19.50 A Harami Cross Pattern was also formed from the last two candlesticks. This might signal for a reversal. The Bearish Harami Cross Pattern is [...]

Still consolidating and it seems to me this might bottom at 18.5 As of this time it has a big probability to go to that level basing on the movement depicted from the chart. Caveat as always.