• candlestick: hammer
  • 2-day low volume decline
  • bounces at 41



  • Fundamentally bullish, Technically bearish?


PNB (as requested)

  • Once it goes down below 55, expect it to fill the gap at 52.50.
  • Aside from 57, there are other possible resistance levels like 60, 61.50(price) and RSI70




  • Before, LR & BEL move in synch. But lately, BEL has been outperforming LR.
  • Is it because of this?
  • “Belle is renegotiating with LR the terms and conditions of the casino project…. masyado dehado daw si Tatang sa deal”  -miner of Finance Manila 12.19.2011






Some of the components of Head & Shoulders Top (Reversal)

  • Neckline Break:
  1. The head and shoulders pattern is not complete and the uptrend is not reversed until neckline support is broken.
  2. Ideally, this should also occur in a convincing manner, with an expansion in volume.
  • Support Turned Resistance
  1. Once support is broken, it is common for this same support level to turn into resistance.
  2. Sometimes, but certainly not always, the price will return to the support break, and offer a second chance to sell.
  • Price Target…
  1. read it here

*There is an initial support at 1.69. if this will not hold, see you at 1.60. Worst case, see you at H&S price target.




  • Breakdown





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