Stock in Focus: Robinsons Land (RLC)

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Property firm Robinsons Land Corporation (stock symbol: RLC) ended 2013 very close to its lows, after price met November and December sellers which brought the stock down by over 5 pesos.

The MACD Oscillator (MACD-O) displayed a bullish divergence (green diagonal lines) during the terminal phase of this decline and price soon followed up with a minor break of the downsloping trendline (gray diagonal line).

TP’s Advice: Be careful of this stock. The 18-19 area is a major pivot zone, hence we could see some good action here (break or bounce) in the next few weeks.

(Click here to view the original image)

RLC Daily chart, December 27

RLC Daily chart, December 27

 

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