Stock in Focus: Leisure & Resorts World (LR)

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Pressure was unbearable for Leisure & Resorts World Corp. (stock symbol: LR) holders, so price have fallen back to the range since my April 6 post.

Philippine Stock Exchange, Leisure & Resorts World_LR Daily chart, June 25, 2014

LR Daily chart, June 25, 2014

LR followed the bearish script on that post, falling close to 6.50 before making its (current) rebound. The Money Flow Index (MFI) has made a small bullish divergence in the process.

Bulls could have a tough task of breaking through a near-term resistance area: 7.00-7.50 which has a descending trendline tucked right above.

TP’s Advice: Failure to stay above the 7.00 level indicates continued weakness. Be careful of this stock. Having said that, an extended consolidation between 5.00-6.00 and 8.00-8.50 remains a possibility.

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

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