News / Philippine Stock Market
There was a time when practically all property stocks were untouchable. Not because you couldn’t buy them at the right price but because they just kept falling. But that’s not so anymore. Expected to spearhead the awakening of the whole sector would be ALI. It’s a good thing that ALI has also shown us that it’s ready to take on that challenge by creating an inverted head & shoulders pattern. This reversal pattern has a neckline with a slightly upward bias. The breakout will be a bit delayed but it should still be good when it happens. The moving averages are slowly turning around to support the price. The only obstacle in ALI’s way will be the 260MA at 12.50. I would expect some resistance to occur at this price. Once that is surpassed, I would expect it to go its target of 14.50. The MACD lines have turned bullish also, confirming the trend for the stock to be bullish. In fact, what alerted us to keep this in our watchlist was the bullish divergence created by the MACD since March where the price created lower lows up to July but the MACD has done the opposite. This is one blue chip you may want to include in your portfolio when the market finally breaks free. Recommendation: Wait for the breakout with volume. 
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