Is it time for PNX to continue moving up? Currently still in between the 38.2% and 50% Fibonacci Retracement level. Looks like this stock is just taking a pause after the big rally few days ago. Looks like the Harami is not confirmed. Onward to 10.50, shall we? Caveat!
PNX is mid way to recovering from the big loss last April 25 and 26 after it made a rally last April 30 but bearish sentiment became obvious after we had the last two candlesticks. Is it just a “pause” from the rally or the Harami pattern suggest weakening of the bulls. Currently the price [...]
PNX turned green today but not a convincing move. Bulls doesn’t showed up with its full strength which lead us to think that bears still rule the battlefield. I think a move that will bring the price inside the Bollinger Band with good candlestick formation should be a good ingredient for a reversal. BUY signal [...]
The bad news about PNX (https://www.citiseconline.com.ph/Final2/Researchcompupdates/DOWNLOADS/Alert%20-%20PNX.pdf) made the price of the stock to fell 9.23% at the closing piercing through 2 Fibonacci Retracement levels. Will there be a continuation tomorrow? Current price is within the support area. This area may go down to 9.22. This is a good time to monitor this stock. Don’t catch [...]
PX went down last week by 7.46% Last Friday the price touched 16.0 but was able to regain a little bit of control. Currently, it is at the mercy of the 50% Fibonacci Retracement level which acts as our support. Interestingly we also notice that the price movement of PX since last March is creating [...]
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 [...]
No confirmation from PNX today as it stayed red. Biggest percentage of the volume are seen to trade at 9.30 Most of the time PNX is in red while seen on few minutes after opening to reach 9.50. The price movement today may cause PNX to go sideways with bearish bias. RSI at 14 means [...]
We are seeing a Dragonfly Doji pattern on PNX today. PNX is in a downtrend and today it seems that the bulls start to make their presence felt by the bears. Few minutes after the opening, PNX went red and stayed in that department most of the time but closed unchanged. This shows that while [...]
The bulls on PNX seemed to start making their appearance. Last Friday we saw some bullish sentiment although there is still some concern among the traders that is why its strength didn’t sustain. This price movement creates a something like a Gravestone Doji. This is a medium reliability pattern so even if there is potential [...]
No signal yet for PNX of possible reversal. Price went down further and away from the lower band of Bollinger Band. Let us see tomorrow if we will have a clear signal. Its better to wait than to catch falling knives. Caveat!
Based on our Fibonacci Retracement level, 38.2% which was the resistance way back in March 2012 and how act as support has been breached. Price is now at the mercy of the 50% level which is not really a part of Fibonacci but used as psychological support since its halfway between zero and 100. Will [...]
Looks like we have already forgotten about PNX. Current price movement is contained in a rectangle formation. This has been going on for a while now after we saw some rallies last month following the declaration of the 30% dividend. With date still not available, this may trade at its current range. Currently our price [...]
Are we going to see another rally for PNX tomorrow after it made a 7.72% run last Friday? Or it’s a 1-day wonder act? White Opening Marubozu candlestick and closing above upper band, suggest there will be continuation of the bullishness of the stock but these indicators are soft ones. I think the very reason [...]