ALI recorded sales of P24.6 billion in the first quarter of 2021, down 13% from the same time last year, and net profits of P2.8 billion, down 36% year on year attributed to pandemic restrictions. Sales reservations increased 15% year on year to P28.5 billion, as domestic demand remained strong despite community quarantine policies.
In the first quarter of 2021, the influence of the Covid-19 pandemic is already visible in ALI’s financial results. The reimposition of tougher lockdown controls in April is supposed to have a significant impact on its commercial leasing market. Conversely, the company’s upcoming P100 billion projects could help reduce the losses.
P31.50 is the first point of support, while P34.50 is the resistance. If price breaks P31.50, the next level of support is peg around P29.20. The stock is in a downward trend, with the RSI (14) below 40. Additionally, no signs of reversal have been shown so far.