Stock in Focus: Ayala Corp. (AC)

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Holding firm Ayala Corporation (stock symbol: AC) averted a break to new lows as bulls took charge and brought price to the 580s, just several days after my last post.

Philippine Stock Exchange, Ayala Corporation_AC Daily chart, March 19, 2014

AC Daily chart, March 19, 2014

A break of resistance at 600 is still required to keep the ball in the buyer’s court. Next resistance lies at the 630-650 area. Meanwhile, critical support remains around 500-520.

The Stochastic indicator has moved down steadily, while price hangs on just above 560.

Do you have AC in your portfolio? Share your thoughts below!

 

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