Stock in Focus: 8990 Holdings Inc. (HOUSE)

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Property firm 8990 Holdings Inc. (stock symbol: HOUSE) has received a boost since late-May, which now looks like a short-term affair. Will the house continue to crumble?

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Philippine Stock Exchange, 8990 Holdings_HOUSE Daily chart, September 5, 2014

HOUSE Daily chart, September 5, 2014

From the 6.50’s, HOUSE’s climb fizzled out ahead of 9.00. 8.00 rejected selling at the first instance, but once it cracked, price went pretty much downhill from then.

7.00 is a very critical line in the sand for HOUSE. If this 6.50-7.00 breaks, more buyers will remain stuck in this stock or worse, lose more as they exit.

The Relative Strength Index (RSI) lays flat below the 50 level.

TP’s Advice: Be careful, avoid this stock. HOUSE remains in a consolidation despite the recent “upmove.”

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

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