The stock of holding firm Aboitiz Equity Ventures (stock symbol: AEV) has been eerily quiet since February as it traded mostly within a 3-peso range between 56 and 59. You would notice there were moves beyond the two horizontal consolidation lines, but you can consider these as “noise” or “false breaks”.
The truth is, this stock has been trading within a larger consolidation between 50 and 60 since 2014. With the current price action, we can expect AEV to remain in consolidation for at least several weeks more, until either side (50 or 60) gets broken.
Watch out for more false breaks of the smaller consolidation.
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