Ayala Land made a good run from the bounce from 27 to 33. For those who bought at the quick bounce you may start to take profits should the stock continue its move downward. As of this writing the stock is currently down as 33 served as its resistance preventing the stock from pushing higher. Looking at the trend, in spite of its bounce from 27 the stock is still bearish over the mid term.
Here are things to watch out for if you are following the stock:
1. If this keeps up the stock could drop temporarily to 31.2. You may buy the stock if it holds at this levels and set your target selling price to 33.1.
2. If the stock fails to hold above 31.2 other buy areas where the stock could drop is at 30 and 27.1 respectively.
3. Should ALI pick up momentum and breakout of 33.1, the next target price for ALI would be 35.9.
4. ALI is still in a downtrend and it needs to go above 35.9 to reverse and escape the downtrend. Should you be positioning you may want to watch this price range.
Hope this helps you all! God bless you!
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