Trader's Logbook

MBT made a good defense to avoid being battered by the bears unlike BDO (BDO may test 38.2% Fibonacci Retracement level again) and BPI (Is it time to buy?) Price action seemed to heading towards the 23.6% Fibonacci Retracement level which is just a few fluctuations away from current price. Interestingly, MBT seemed to be [...]

Bears outnumbered the bulls and outpowered at the same time. The bulls that helped price closed above the 23.6% Fibonacci Retracement level were tired of defending their ground and submit to the bears. Price close at 112.00 per share. That’s below our support line. Looks like this stock will go sideways with greater bearish bias. [...]

After passing 115 and reaching 117 altitude outside the orbit, MBT seemed to have some technical problems. Now floating in space, our travel might be in halt while fixing the problem. The last two trading days last week showed us how MBT retraced from 117.20 to 114. Unfortunately the wing commander just announced that we [...]

MBT having a hard time breaking the resistance line and is currently forming an Ascending Triangle. Will it break the resistance any time soon? Looks like the price movement inside the triangle is already being squeezed and about to explode. The Ascending Triangle is a bullish formation that usually forms during an uptrend as a [...]

Looks like the bulls doesn’t have enough strength to bully up the price. Two instances when price hit the upper band of Bollinger Band but slows down after. One instance last December which then signals as a start of a long travel south. Yesterday we have another same situation and signals with a Dark Cloud [...]

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