Stock in Focus: Aboitiz Equity Ventures (AEV)

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Aboitiz Equity Ventures (stock symbol: AEV) has made no confirmation of a bullish momentum since my first post, and consequently the stock has declined since then.

Price is now trading very close to the 50 psychological level. 48-50 should be defended well by bulls, otherwise we could see a serious breakdown toward 40-45 this month.

The Stochastic Indicator is now in oversold territory, but this won’t matter much if price will continue to move south.

AEV Daily chart, February 5, 2014

AEV Daily chart, February 5, 2014

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