Trader's Logbook

Is the Shooting Star pattern we have today just a representation of the test of support at 50% Fibonacci Retracement level and the 20-day SMA line or it will be a bad signal telling us that bulls have receded. Unless this candlestick will be confirmed tomorrow via large red candlestick, then this is just a [...]

The past movement of LR showed that it bounce after hitting 50% Fibonacci Retracement level, will it be repeated? This is an interesting stock as it formed a Gravestone Doji at the bottom while hitting the 50% level. When this candlestick pattern is found at the bottom of the downtrend, this suggests that the trend [...]

A mere 0.13% change at the closing for PGOLD. Looks like 40 is a strong resistance for now. It seems that bulls’s legs are becoming weak. Traded volume for today is concentrated at 40.25 which took almost half the total volume share. But what really interests me this time is the price movement. As we [...]

DNL gaps up at the opening and bulls began to rally but around 11 AM the selling pressure began to be felt. It went back to its previous price and then turned red until the closing. The movement today showed some bearish sentiment. Candlestick pattern showed a Dark Cloud Cover which is a quite strong [...]

BLOOM continued to go down breaking the support at 50% Fibonacci Retracement level without a sign from candlestick for a reversal. RSI is now at 21.48. Better to enter when there is a good indicator. Let’s wait. Caveat!

Looks like BEL still has strong legs as it rally for another day which raise the price to 6.84 per share from 6.56 yesterday. Virtually no resistance as of this time but support level seems to become farther and farther from the current price. Fibonacci retracement level shows that 23.6% level is our support. Lets [...]

After successive rallies by LTG, it finally make a dip last Friday creating a familiar medium reliability Engulfing Pattern. We have seen possible reversal indicators on previous days but LTG ignored it all and continue to go up. Will the Engulfing pattern be different? Will the bears win this time and cause the price to [...]

VUL did a big leap for the 2nd time following the disclosure and 1 hour trading halt. The price went as high as 2.10, few flucs short of the 2.2 all time high but settled at 2.04 per share. The price action created an interesting candlestick called Long-legged Doji which is a bearish signal if [...]

Another rally for BKD ignoring the possible reversal from yesterday’s candlestick. Will it continue to rise this week or the force of bears at this level will drive the bulls backwards? This stocks is surely not for the faint of heart. Double Caveat!

Looks like we have a bad signal on LTG. What we are looking right now on its daily chart is an Engulfing Pattern. As we all know the trend of LTG is upward and at the top of that we see a red candlestick engulfing the smaller green candlestick. Yesterday’s small green candlestick is a [...]

Looks like ALI hit a thick wall and can’t go past it. The 33 level has been tried few times already but bulls failed to stay above it. Bears seem to be so strong at this point in time. Price action shows a bearish signal and if confirmed, price may go down and find support [...]

Our Philippine Stock Exchange Index looks tired after 5 days of going up. At the top of the trend we have a Shooting Star candlestick that suggests reversal. Although this has a low reliability, we should be careful. The chart also show that we have a resistance at this point and may scare away the [...]

After the last time we posted about FGEN (Close that gap FGEN), it finally closed the gap but at the same time it shows great indecision among the bears and the bulls. The Doji candlestick tells us that price went up and went down but settled near the opening price. Since the indecision appears after [...]

We are now looking at a low reliability candlestick formation called Harami on AGI at this point. The Harami Pattern is a sign of disparity about the stocks condition. While we saw that it is characterized by downtrend and bears are all over it there was a continuation of the trend however on the last [...]

Currently at oversold level, this stock is poised to go up soon but no signal yet from our candlesticks. We do have something to speculate from other indicators. If we look at our chart we see a flag pattern. The Flag pattern forms what looks like a rectangle. The rectangle is formed by two parallel [...]

BLOOM did a great job today not to go down yesterday’s price. Although it didn’t see a rally, we felt bulls are in the area. The price movement today creates a Harami pattern where the 2nd candlestick is a green one and is contained within the real body of the previous red candlestick. There is [...]

Morning Doji Star is seen today on PX but volume isn’t picking up yet. Another indicator RSI is giving a BUY signal. Will it bounce and reach 18? We recognize Morning DOji Star when we see the stock’s price is in a downtrend and then we see a Doji followed by a green candlestick as [...]

A good rally for DNL today which move up by 3.74% from yesterday’s close. Tomorrow will be another try to break the 7.0 immediate resistance which is quite strong. After the Hammer yesterday, we have seen a good green candlestick today. Is this it? Lets see if the resistance has now soften after bulls tried [...]

SLI did a good job today avoiding turning red. It closed by 15.91% to 1.02 Is this the beginning of its reversal? We have a Harami pattern formed in today’s chart. As we can see we have a green candlestick that is contained within yesterday’s red candlesticks. This pattern tells us that while the stock [...]

Last Friday it rose by 2.66% to close at 19.30 per share. 31% of the traded volume was done at this price. The price movement creates a single candlestick pattern called White Closing Marubozu. Will it be the start of the new rise for SMPH? It has been quite a while that this stock has [...]