PXP still having a hard time breaking the resistance at 38.2% Fibonacci Retracement level but as the days progresses, it seems that buyers are starting to gain strength because they are making higher lows. They keep putting pressure on that resistance level As a result, a breakout may happen soon. Caveat!
The definition of Ascending Triangle doesn’t really fit on the current formation made by PXP but it is worth noting that for the past few days, price has been creating higher lows. If you notice there is a certain level that the buyers cannot seem to exceed (looks like around 34). However, buyers they are [...]
PXP broke the first hurdle at around 38.2% Fibonacci Retracement level but will it be able to break the bigger hurdle at 23.6% level? Today’s rally was the first big one for PXP and while RSI have just loosen up recently, now its back to 80+ level again. How far will it go before correction? [...]
Looks like PXP escaping from the 50% Fibonacci Retracement level. Although the rise is not supported by any candlestick this might just be the start of a new beginning for PXP. More to come? Caveat!
It seems the price near 61.8% Fibonacci Retracement level is a very strong resistance for PXP. It seems we will take this sideways movement for quite sometime. Just be vigilant and act immediately if something will happen either up or down. At this time we don’t know since candlestick doesn’t give us a clue and [...]
Is PXP looking for some comeback after being battered for many days now? Or this is just a work of some group. Pump before going out? Also worth to mention that MACQUARIE haven’t sold since September with buy average of 27.0437. Looking at the chart, PXP shy away in going towards 61.8% Instead it turns [...]
Looks like PXP will try to test how strong the support at 61.8% Fibonacci Retracement level. The previous level was broken easily and after 4 days staying at that level now it is heading for the next major support. Are we going to see a closure at the 16-17 gap soon? Caveat!
Its a slow bounce from the support line for PXP. Last time we check it was slowly going down the support line. But can it sustain staying at the top of the support line or this will be our last chance to go out? Candlestick today doesn’t say a lot about its bullishness. Just be [...]
As days pass by PXP is going down little by little and is now near the 38.2% support level. Without any news, don’t expect this one to go up soon. Unless someone will play on this stock. Unlike the previous sideways movement which stays at 23.6% Fibonacci Retracement level before go up, this time after [...]
I am intrigued with how PXP closed last Friday. It has a soft opening and 10 minutes later it started to go down 34, 33, and 32 levels then 10 minutes before the closing it jumped from 32.55 to 34.60. It was JP MORGAN SECURITIES who brought the price to that level. Was it done just [...]
It seems that PXP likes to rest within the 23.6% Fibonacci Retracement level before going up. Now that its price is consolidating on the same level, are we going to see a repeat of its previous rallies? The second time it went up was because of the news about the oil discovery. What will be [...]
PXP just bounced few days ago from the 23.6% Fibo Retracement level. This might go sideways or slowly go up. Caveat!
If you look at PXP’s dips it usually just touch the 23.6% level of Fibonacci Retracement except last May 2 (after the rally) when it dip below 38.2% Will there be a repeat of the big dip or just the normal retracement? Your guess is as good as mine.
Is it long overdue? From June 27 that it broke from its ascending triangle, the price has been consolidating above the support. It has been two weeks now. Basing on historical broker transaction (June 27 – July 11) MACQ have accumulated 960K shares at ave of 44.8 and haven’t sold any. Asiasec has bought 1M [...]
Is todays price dip the last dip? Intraday’s low was 42. Lowest part of my support range which is 42 – 43. If we look at the volume today of 2.3M, that is more than quadruple from yesterday’s. Basing on the principle of ascending triangle, once the price breaks the resistance it will not directly [...]
Why my outlook for PXP is still bullish comes from my conviction that this stock is not yet done. I was even expecting a correction to reach around 42-43 but its price is still holding at 46-47 level. Basin from my chart for the past days, technically PXP can reach up to 60+ level. Unless [...]
PXP – PHILEX PETROLEUM CORPORATION Was bearish this morning but bulls was trying to catch up during the afternoon session. It went down to as low as 43.80 but was able to bring the price to a green territory 47.5 For me, the last few minutes of the market is a bit bearish that is [...]
PXP – PHILEX PETROLEUM CORPORATION Has been bullish today and finally broken from ascending triangle. Now that it is in unprecedented level, its price can shoot up to anywhere. Technically speaking, PXP can still go up around 60-65 pesos but this is not going to be a straight line. The once resistance at around 43 [...]
PXP – Philex Petroleum Corp I will use the chart I presented yesterday and add today’s candlestick . I am still on accumulation stage for this stock. Better than BSC because of Kings that is unloading. I am giving PXP this week to see if this will really break and give me mo money lol
PXP (PHILEX PETROLEUM CORPORATION) Time to accumulate? With price moving sideways inside ascending triangle we might see a price breakout soon. Try to accumulate shares at this level but only at your comfortable price. Always remember to spend an amount you are willing to lose.