The stock of holding firm Filinvest Development Corp. (stock symbol: FDC) has slowly slid further since my last post back in May.
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The Money Flow Index (MFI) could be showing a short-term top at the moment.
Bulls failed to guard 5.00, so Filinvest Development Corp. could now be forming a consolidation area between 4.00 and 5.50, with a potential short-term double bottom printed in August and this September. 4.45 is the 8-month low so far.
For the benefit of all bulls, price should stay above 5.00 in the coming months. Otherwise, the consolidation could become protracted.
Do you have FDC in your portfolio? Share your thoughts below!