Showing posts with label PX. Show all posts
Showing posts with label PX. Show all posts
Thursday, June 9, 2011
Monday, June 6, 2011
Friday, May 27, 2011
Philex Mining (PX)
Broke into a new 52-week high (on a Friday).
My initial entry is @19.22(1) but I decided to sell 60% of the position(2) that resulted -0.06% of capital as the price of LC that day looked pretty attractive.
My calculated breakout buying price is @20.03.
However, RSI is relatively weaker vs price with bearish RSI divergence which are bugging me so I am keeping a tight trailing stop for the meantime. Long white candlestick accompanied by huge volume suggests a short term overly bullish sentiment.
My initial entry is @19.22(1) but I decided to sell 60% of the position(2) that resulted -0.06% of capital as the price of LC that day looked pretty attractive.
Position is now up by 4.65% from adjusted entry price.
Looking closer at the 5-minute chart:
MACD bullish divergence was seen on the 5-minute chart but the price reversed only after RSI divergence.
Crazy juice flowing on the weekly charts:
Pullback after breakout(red circle) from symmetrical triangle pattern with (+/-) 22 as target.
RSI historical resistance 86.
It took 14 weeks to resume its uptrend after breaking out which is kinda hard to time. lol.
Maybe I can (much later on)when I get better in trading.