Trader's Logbook

PHES went down as sellers gave in to the buyers. I have been monitoring the bidders and sellers of PHES. I noticed that most of the time there were a lot of bidders than sellers but bidders are stronger in their conviction not to buy higher, thus in the end sellers gave in and put the price tag to 0.69

Looking at the chart, we have our Bearish Engulfing Pattern confirmed by big red candlestick. We also have a sell signal on MACD that adds to the warning.

Price is still within the consolidation area but its heading to the lower limit.

Caveat!