Trader's Logbook

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 it rallied was because of the disclosure about the dividend. You should be wary if price movement tomorrow will give you a red candlestick and closes below the upper band of Bollinger Band.

Caveat!