MBT bouncing from support; heading towards resistance level

Weekly: MBT‘s weekly chart is showing some bullish signal via candlestick pattern called Bullish Piercing Line. This pattern suggests that the bears are losing their confidence while bulls are getting stronger. But this bullishness is not yet seen in our

MBT looks weak this time

MBT continue to show bearish signals. Today it fell by 2.51% moving away from the Kijun Sen. Another development to watch is the Tenkan Sen / Kijun Sen Cross which may happen if price will continue to fall. Price is

Engulfing pattern on MBT

MBT is showing a bearish sentiment depicted by the Bearish Engulfing Pattern at the newly created support line made by the 61.8% Fibonacci Retracement level. This support was created just last Friday but it proved to be an easy target

MBT breaking Fibonacci Retracement level

MBT crossed one Fibonacci Retracement level last Friday moving upward from the lower slop now it is midway to the upper slope. Ichimoku system is showing bullish sentiment as price hover above the Kumo or Cloud. Will it hit 96

MBT has awaken?

MBT continue to be bullish based on our Ichimoku system. Price is above the Kumo or cloud and Tenkan Sen still hovering above the Kijun Sen. The Chikou Span also confirms that MBT is in upward trend since the price

MBT looks weak at resistance level

MBT is still trying hard to break from the Kumo but it seems the cloud is just too strong to be broken as of this time. Yesterday we have a Doji which signifies indecision on buyers and sellers but today

MBT breaking support levels

MBT broke two Fibonacci Retracement levels today, 50% and 61.8% and the 20-day SMA line wasn’t able to hold as well. Is this going to continue up to 76.4% level? The closing of the gap turned into a nightmare and

Will MBT close the gap before heading upward?

Correction has been on going on MBT after it soared with gap created. Now it is at 50% Fibonacci Retracement level which is its immediate support but the gap below seemed to be pulling the price. Just like what happened

MBT continue to soar, waiting for correction

MBT continues to show it strength after we saw a bearish candlestick last Thursday at the 50% Fibonacci Retracement level. The Doji candlestick was followed by a large green candlestick which signifies that the bulls are still in charge. It

MBT trying to break 200-day SMA line

MBT is trying to break the 200-day SMA line but so far its not successful. Last time we saw MBT did this was mid August. Could it be different this time or we will see MBT retrace again? Last time

MBT choose to break from the resistance

MBT chooses to break from the downward channel with a good volume. Previous resistance lines becomes our support line which are the slope and the 23.6% Fibonacci Retracement level. Some brokers releases the stock dividend after the market so in

MBT: A break or retrace?

Tomorrow is the pay date for the 30% stock dividend given by MBT. Will there be heavy selling of shares or this will be the turning point for MBT to break from the downward channel? Notice on our chart how

MBT broke 61.8% Fibonacci Retracement level

MBT made a rally today to close 4.62% higher than previous price. It broke the 61.8% Fibonacci Retracement level (newly found support). The Marubozu candlestick suggests that we can still have a continuation of the rally. In case there is

MBT showing some power

MBT managed to slim down its losses after it hit 102.50 then bounced to 105.90 at the closing. The price movement creates a candlestick called a Long-legged Doji. This candlestick tells us that while we are in a downtend (at

MBT still trading the range

Last time we saw MBT trading the range at its at the lower end. After that it move up but very briefly and then retrace. Currently visiting the lower end once again. Will it have a repeat of performance, that

MBT range trading. Price move somewhere at lower end.

Last July 2 we saw a Shooting Star on MBT which signaled a retrace a it happened but instead of continuing its downward channel during that time, it chooses to move sideways with support at 61.8% Fibonacci Retracement level. From

Shooting Star again on MBT

Candlestick created by MBT today is not a good one. After hitting 117.00 it retraces and closed in red with 0.44% decline. The Shooting Star candlestick appears again but unlike last time, its red. Although Shooting Star is not a

Is MBT going to obey the trend?

MBT touched the 50% Fibonacci Retracement level but wasn’t able to break it. Based on previous moves, MBT retraces after it hits a Fibonacci line creating a lower high. Could this be another dip for MBT or it will be

MBT traders on hesitation

MBT was in an indecisive mood last Thursday. Then on Friday we saw that traders wants to price to go up although we’ve seen some hesitation after it retraces from as high as 113.50. It closed at 111.00 per share.

Was it the bottom for MBT?

MBT made a 3.36% run last Friday to give us a good green candlestick following the buy signal on RSI and a touch on 38.2% Fibonacci Retracement level where 100-day SMA was also there to act as double support. Currently