Stock in Focus: Ayala Land (ALI)

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After several weeks of choppy declines, the bearish price action seen in property giant Ayala Land (stock symbol: ALI) has increased a notch higher this week after 26 succumbed to selling pressure on Tuesday.

The Stochastic indicator has just crossed the 20 level, owing to the intense selling seen in recent days.

Price is approaching a critical juncture as the support at 23 looms. This means the new week could be very exciting.

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ALI Daily chart Dec13

ALI Daily chart December 13

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