Stock: BDO
Company: BDO Unibank Inc.
Support: 100.00 / 101.26
Resistance: 108.33


Three black crows were spotted on BDO’s closing chart last Wednesday, as it settled at 103.20 (-1.71%, -1.80pts) below its MA260 at 117.71.

The stock might continue to follow a downward track in the short-term given the reversal pattern formed. This is further supported by stronger selling pressure, increased bearishness of MACD, as well as the consistent slump of RSI towards south.

Next immediate support is now at 100.00, with resistance at 108.33 (MA50).

Recommendation

Trade the range.

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