Mimicking the action of the PSE index, Filinvest Land (stock symbol: FLI) has been trading in a very tight space within the 1.40 area for more than two weeks now.
The Stochastic indicator has diverged from price and is still trending down.
Keep an eye on price action between the 1.20-1.70 range. Price could stay in it for quite some time, unless buyers or sellers have something else in mind. I can’t see price staying inside this mini-consolidation for long.
Do you have FLI in your portfolio? Share your thoughts below!