Trader's Logbook

PIP kissed its 23.6% Fibonacci Retracement level support but refused to stay there at the closing. OUr chart showed that this line was a strong resistance. Without a good candlestick pattern at this time, this line will still be tested. But RSI now is at 22 which means this is oversold. Now waiting for the [...]

Last week we were asking if PIP is Up or down?. Now we see that PIP is going down. But how far will it dip? As of now, our candlestick doesn’t indicate a reversal. A major support can be seen at 23.6% Fibonacci Retracement level. Probably at 5 where it is also our psychological support. [...]

After so many days of going up, PIP took a breather yesterday and today it stop and think where it should go. As depicted by a Doji at the top of the hill, buyers and sellers is now indecisive. RSI at 85, maybe time to loosen up a bit? Caveat!

PEPSI-COLA PRODUCTS PHILS. INC (PIP) – with its price at the top of the chart it virtually has no resistance other than the intra-week high of 4.92. That resistance was reached last Tuesday when RSI reached as high as 90 for that day. On our weekly chart, PIP still have a few more RSI to [...]

Price movement of PIP is still within the pattern it is creating. Will there be a major breakout soon? MACD has a buy signal but RSI is already at 78. No major concern from the candlesticks so I think this will continue to go up little by little until correction to ease up RSI. I [...]

PIP has been in an uncharted area so there is a mix of fear that it will go down or for traders with strong conviction that this stock will continue to rise. We might be seeing a Rising Wedge formation for PIP. Will this go down soon or the psychological support will have a strong [...]