ALI at 76.4% Fibonacci Retracement level

ALI continue to decline and is currently at the mercy of the 76.4% Fibonacci Retracement level on 1-year time frame. This isn’t good for ALI. Price may go sideways within the two Fibonacci levels but with bearish bias. Next support will be at 24.00 if current support will fail. 20-day SMA is moving further away from the 200-day SMA line. Will ALI visit the 52-week low?

Caveat!

3 Responses to ALI at 76.4% Fibonacci Retracement level

  1. […] and is currently at the mercy of the 76.4% Fibonacci Retracement level on 1-year time frame. ALI at 76.4% Fibonacci Retracement level Reply With […]

  2. Jules Keene says:

    With Ayala Land's high PE of 33, there is high probability hitting its 52-week low of 21.85 as there is no triggering issue esp with the bearish sentiment on our market. It's candle is still 'red' which is also currently sitting on its pivot line/support at 25. Smoothed RSI is sideways near its 30%, caveat!

  3. Felix T. Gomez Jr. says:

    Thanks for sharing. Nice observation.

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