Wednesday, May 12, 2010

PHILIPPINE STOCKS: ALI (AYALA LAND, INC.) – May 12, 2010


Chart-wise, the price of Ayala Land stocks (ALI) is currently in an upward trading channel (blue dotted lines) after coming from the 2007-2009 downtrend (violet dotted line). From October of 2008 to August of 2009, ALI started moving sideways and broke out (orange circle) from the consolidation’s resistance (orange line) on August 24, 2009. From that breakout point, the price consolidated for another 7 months until it broke out (red circle) from its resistance line (red line) on March 30, 2010. Currently, the price again looks to have been consolidating for a month now and I’m looking into 12.75 as the support (red line) and 14.25 as the resistance (greed dotted line).

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