Trader's Logbook

After the fall following the Shooting Star that we saw on our Philippine Stock Exchange Index last April 1 price is now about to hit the 20-day SMA line. Are we going to see a bounce from this level or it will continue to drop? Last Monday’s action is not really impressive even if the bulls [...]

PGOLD closed above 40.00 but still most of the volume were traded below that price with bulk at 39.00 Are we going to witness a break from resistance very soon? Still our support is the 23.6% Fibonacci Retracement level in case we fail. Caveat!

Take a deep breath as PGOLD may touch the base before bouncing off like a basket ball and bulls may finally win over the bears in this arena. Of course that is just speculation. Looking at the chart it seems that is likely what will happen. Few weeks ago we have seen this stock bounce [...]

After hyping and bashing on this stock, it seems PBB shy away from the limelight and move sideways within its trading range. Last Friday we saw an increase in volume and price going up the upper limit of the range. Is it the start of the climb for PBB or those who entered last Friday [...]

For those with NIKL stock, the price movement for a couple of days may interest you as it formed an Ascending Triangle. The ascending triangle is most of the time considered bullish formation that forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end [...]

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 [...]

LC was down by -11.32% last week. Will it continue to go down or we will experience a bounce at this level? After the big fall last April 2 I thought the next day was a fire exit but the remaining action last week shows indecision among the players. This is something of interest for [...]

BDO may take another test on the 38.2% Fibonacci Retracement level (support) following the bad statement from Nomura Group about banks in the Philippines. After taking off from the launch pad last 2nd half of March and hitting 23.6% Fibonacci Retracement level, price is heading back to earth. In case this wouldn’t hold, 50% is [...]

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 [...]

EDC continues to go down and the same question we were asking last week, EDC going to hit lower end? Some may consider doing a test buy around 6.26 with a speculation that it will bounce from there and start to climb but the upper limit of the range and eventually break the resistance. But at [...]

As what we have said before that DNL needs a new support line because the 6.50 is too far and every time DNL will have a rally it gets tired when it reach 7.0 Today’s candlestick shows a possible reversal from the 4-day decline. What we have right now looks like a Gravestone Doji formation which is has [...]

Last time we talked about ENERGY DEVELOPMENT CORP. it was at the mercy of its support at 61.8% Fibonacci Retracement level and at the same time we are seeing a possible rectangle formation being developed. The last 3 trading days shows that the price slipped from the support line. It looks like EDC will be heading [...]

PNX retraces after it comes near its resistance. From as high as 10.72, it dropped to 10.24 at the closing. There were many who bought at 10.70. Will they be the new ipiteros? Current resistance from the Fibonacci Retracement level is at 23.6% while our support is at 38.2% Who will win tomorrow? The bears [...]

It is anybody’s ball game for CPG at this point. This week the price is trending inside the 23.6% and 38.2% Fibonacci Retracement levels. Good thing the RSI is healthy but it seems nobody wants to be the first to make a big move for now. Do you want to start it? Caveat!

Another rally for BKD ignoring the possible reversal from yesterday’s candlestick. Will it continue to rise this week or the force of bears at this level will drive the bulls backwards? This stocks is surely not for the faint of heart. Double Caveat!

CAL continued to rally today with a good volume. Prompted me to buy but sell on the same day. I still don’t believe on this stock for now so better to get out before the sun sets. Looking at the chart I think it is very important for CAL to break the current resistance because [...]

After yesterday’s dip, AEV rebounded and closed above the 54 mark and close just at 38.2% Fibonacci Retracement level. The area that we have right now has been our area of interest since last Monday because we have seen action here last December and last January. Will this be a place for the launching of [...]

PGOLD shy away from 40 and close 1.01% below yesterday’s price. It is currently at 39.40 per share. It seems that we will be trading sideways within a horizontal channel for a while. From the highest part of the range it might come down to 23.6% Fibonacci retracement level. Caveat!

The resistance seemed to be so hard to break. Even the 7.0 psychological resistance is also strong. As of this time DNL shows a bearish sentiment and may go back to its support line to gather more strength. Problem with DNL is that after bouncing from the support line, it get tired and loses momentum [...]

Looks like ALI is in a bad mood as it continue to dip today. Price close near the 20-day SMA which is our immediate support. Will it hold? Next support might be at 30.00 which is our 23.6% Fibonacci Retracement level. Caveat!