AC: Consolidation mode

Ayala Corporation

AC is now potentially consolidating in an Ascending Triangle pattern (a bullish pattern) after failure to break the immediate resistance at 800. A breakout from this pattern will have a measured target of around 736. As the consolidation pattern suggest, a pullback towards 760 level is still possible.

Trading plan in the previous post was a done trade already after hitting 800 short term target:
http://psetrends.blogspot.com/2015/07/ac-trading-buy-near-support.html

Trading Plan
- Buy on breakout that is supported by high volume (TP = 864).
- Or accumulate on dips near 760 with tight stop just below 745 or 736. Near term TP on this entry is around 800 (potential scale down price) and profit run the rest of the position (using trailing stop). Risk/reward ratio remains decent at a minimum of 1:2.

AC: Potential trading buy near support

Ayala Corporation

Support area near 200MA (740~747) holds up despite the recent market wide selloff. This support area is also significant as previous resistance prior to breakout that now being tested again and act as major support. Now that positive sentiment seems back on the market, AC may likely start consolidating just above this support or rebound from there.

*Bullish pattern developing on MACD
*Oversold
*Immediate resistance around 800

Trading Plan
- Buy near support.
- Short term TP near resistance around 800.
- Stop-loss just below 740 (735 below) - around 1:4 risk/reward ratio.