Stocks Of Filinvest Land Preparing To Climb Again?

Hello guys, welcome to another day of trading! Here’s an update on the stocks of Filinvest Land Inc. (FLI as its ticker symbol) which is one of the leading residential property developers in the Philippines. I posted on this last September 14 when it had been going up after breaking out from the 1-year symmetrical triangle formation (kindly see that post in this link). 

FLI High!

Hello to the followers of Filinvest Land Inc.! As you can see, the stocks of this company have been making a good run since August and is making new highs for the 2-year time frame. Two months ago, it was still at 1 peso. Now, it's at 1.44 pesos exceeding the 1.33 peso resistance which also is my target price as I mentioned on my last post (kindly click here). We have here a nice example of a classic triangle pattern that broke out and reached it's target price by getting the size of the triangle's base added to the breakout point. However, the pattern I'm seeing could be different for others. Well in fact, looking at the 2.5-year time-frame, you could actually see a reversal cup and handle formation. Anyway, I also posted on this when it was just about to break out from the triangle pattern (kindly click here) and been monitoring it since then. For the lucky ones who were able to buy at 1 peso, an easy 40% for you guys in less than 2 months. Definitely not bad!

FLI Profits!

Hello there! Here's an update of my technical analysis on Filinvest Land, Inc. (FLI in the Philippine Stock Exchange) that I posted two weeks ago (kindly check here). The last time I posted about FLI stocks, they were still trying  to breakout from the triangle formation by consolidating and going in and out of the resistance level. Fortunately, they were able to fully breakout and made a 2-year high of 1.18 pesos. Once the 1.18 peso price mark gets cleared out, the next resistance that could be aimed for is 1.33 pesos which is the base of the triangle added up to the breakout point (red circle). However, the stocks went back down and found some support at 1.04 pesos. If the stocks breach below the 1.04 peso marker, the next support could be the 1-peso psychological area.

Word on the street, Filinvest Land Inc. launched five new projects to meet the demands for residential properties. At the same time, they bagged a good 2nd quarter 2010 net income of 31 percent or 998 million pesos compared to 759 million pesos during the same period last year. This in turn propelled their stocks to rise 2.8% to 1.10 pesos during the trading session earlier.

Philippine Stock Pick: Filinvest Land Inc. - August 1, 2010

Hi guys, here's an update of Filinvest Land Inc. (FLI) which is my stock pick in the Philippine Stock Exchange. They are also one of the leading residential property developers in the Philippines. Anyway, last June, FLI was still setting up the symmetrical triangle formation in its stock chart (kindly check here for my post about it). Last Wednesday, the stock price tried to break out from the triangle with a 8.2% gain but went back inside two trading days after (indicated by the red circle). If it manages to fully break above the triangle's resistance and head northbound, some selling pressure could be encountered at the 1.08-1.10 level. If that gets cleared out, 1.33 pesos could be the next resistance. On the downside, if the stocks of Filinvest Land Inc. would just continue to consolidate inside the triangle, the immediate support could be 0.95 pesos. If the price further drops below the 0.95 peso marker, the next support could be 0.86 pesos.

Philippine Stocks: FLI (Filinvest Land, Inc.) – June 17, 2010

The stock chart of Filinvest Land, Inc. or FLI in the Philippine stock exchange could be setting up a triangle formation after a year of moving sideways. In case youdo not know, Filinvest Land, Inc. is one of the leading residential poreperty developers in the Philippines. I also have several big developments in and around Asia. Anyway, I haven’t heard much news about this company but it looks to me that its stock chart could be telling a story. As you can see, the stocks has been consolidating withing an ascending triangle pattern. Once its shares move past the triangle’s resistance with heavy volume or past the 1.00-1.10 PHP mark, the 1.33 level could be hit. However, it could experience some heavy selling pressure at the psychological 1-peso mark. Hence, hurdling this mark would likely define its near term stand. If FLI fails to move upward and declines,it could slide back to the triangle’s support which is around the 0.80 peso area. If that still doesn’t hold, the 0.70 peso support probably would. But since the trinagle is coming off an uptrend, I’d say that it has a higher chance of breaking to the upside than down.

PHILIPPINE STOCKS: FLI (FILINVEST LAND, INC.) 7-16-2009

Filinvest Land Incorporated (FLI), listed in the Philippine Stock Exchange, is showing signs of a good buy as it tries to mold a reverse head and shoulders formation (3 arcs: The head is the biggest red arc and the shoulders are the arcs beside it) and eventually breakout. Once the price surges above the neckline (red horizontal line), a minimum target price of 1.26 would easily be achieved. Click image to enlarge!