Stock: ALI
Company: Ayala Land Inc.
Support: 40.00 / 39.50
Resistance: 40.30 / 41.81
ALI managed to eke some gains as it closed at 40.10, advancing +0.25% or +10 pts yesterday.
Indicators’ bullishness towards the stock is starting to get weak: MACD signals buy with depleting histograms, and RSI14 at 51.92. DMIs, on the other hand, show steady decline in momentum with flattish selling pressure.
ALI might go on a downtrend if support at 40.00 won’t hold. As for its resistance, it’s at 40.30(MA50).
Recommendation
Buy on breakout.
