The stock of property firm Ayala Land (stock symbol: ALI) was strong enough to resist the gap-fill’s magnetism I mentioned in my previous post, and this strength allowed ALI to make further swings to higher highs.
Bulls closed in on a 10-month high when ALI reached 31.95 on April 4. That quick rally was transient; price pulled back to 30 where it is currently resting.
The ascending trendline shown above is actually an extension of the trendline seen on the previous post. This trendline sits quite well at the 30 level. Further support around this area would enable ALI to reach for 35 in the next few weeks.
Do you have ALI in your portfolio? Share your thoughts below!