Trader's Logbook

LPZ having difficulty breaking the middle band, now threatening to test the support? Our candlestick today doesn’t really bring any reversal signal. Looks like a sideways movement between the middle and lower band with bearish bias is where this will move. A break at middle band and closing above it should make the bears fear [...]

Looks like LPZ is in the mercy of its support line. Price went down by 4.6% and move below the middle band, almost touching the lower band. Is the support line coming from our rectangle formation be strong enough to drive the bears away or bears will stay for a while? A Rectangle is a [...]

Last Thursday’s Bearish Harami Cross on LPZ wasn’t confirmed. It rallied as high as 6.15 and close at its highest. It hits the 52 week high. Our weekly chart shows us that LPZ has broke out from the resistance (now its support) with impressive volume and a buy signal on MACD. Although RSI is above [...]

We have seen two large green candlesticks on LPZ‘s chart and generally the trend is going up. But today we find a doji engulfed by our previous candlestick. This pattern is what we call a Harami Cross. This pattern has a medium reliability which means we need a confirmation for our bearish reversal. The Bearish [...]