Since Ayala Land’s -3.7% single day drop last November 27, 2014 the stock started to fall into a short term down trend. However, looking at the chart below, you can see taht Ayala Land (ALI) has broken out past 3 moving averages and has broken away from the downtrend. The only thing that I can see hindering ALI from moving up is the resistance at 35.60.
What is the price range to watch out for? If ALI break’s out of 35.6 and stays above that price range we may see ALI move up to 38.1. This would represent a 7% upside from the breakout of 35.6. 38.1 would also be Ayala Land’s highest stock price to date.
What if ALI drops as it approaches 35.60? Ayala Land’s stock may drop to 34, or to as low as 33 over the short term.
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