Technicals Talk: Ayala Land, Inc. (ALI) – 19 Mar 2024 by AP Securities
100EMA trail support.
100EMA trail support.
Participants might laud the passage on final reading CREATE MORE, especially with the lowering of corporate income tax to 20%.
Participants might adopt a cautious stance this week, ahead of guidance from the US FOMC meeting on 19-20 March (US time).
Potential Gap-fill.
Ascending triangle pattern.
Inverse head and shoulder pattern breakout.
Market players will monitor possible cross above the 7,000 mark, to check whether profit-taking might emerge.
The stock’s 50-d MA looks to hold relatively flat as JGS sees low volatility.
Looks like the demand still hasn’t faltered yet!
Continuing its ascent, SM has reached its fresh 52-week high of 995.50 yesterday.
The local bourse managed to settle higher by +0.11% to 6,878.49, albeit ended on a red inverse hammer.
SCC moved up for two consecutive days after it bounced from a pullback to its short-term support at 33.50 last week.
Inverse head and shoulder pattern.
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