ALI harmonic pattern update

Ayala Land, Inc.

ALI technically completed the Bearish Gartley harmonic pattern and fully tested the PRZ (Potential Reversal Zone ) around 39.56~40.95.

See previous analysis of this harmonic pattern for reference:
https://psetrends.blogspot.com/2017/05/ali-price-action-update.html

Trading Plan
- As noted in the previous analysis, completing the harmonic pattern is a potential profit taking opportunity. Scale down position or take some profit and profit run the rest of the position using trailing-stop.

ALI price action update

Ayala Land, Inc.

ALI is potentially forming a Bearish Gartley harmonic pattern with a PRZ (Potential Reversal Zone) around 39.56 (39.56~40.95 range). The recent breakout from its immediate resistance area around the B leg gives it a higher probability of completing the harmonic pattern.

Trading Plan
- Avoid for now if you are not it a trade yet.
- The PRZ area is a potential profit taking zone.

ALI H&S Top breakdown update

Ayala Land, Inc.

ALI's price action after a Head-and-Shoulder Top breakdown is now getting closer to its projected breakdown price target around 32.20~32.60. It also recently broke the immediate support at 33.60.

*At extreme oversold territory.

Trading Plan
- Observe the price action for now as it gets closer to the breakdown target.
- Buy the reversal pattern near or around the breakdown target area (ideally with a confirmation before entry).
- A potential position trade opportunity if the price drops near or below 31.

ALI: Toppish Pattern

Ayala Land, Inc.

ALI is now potentially forming a toppish pattern with a bearish Evening Star candlestick pattern. Pullback/consolidation may likely follow.

*Immediate resistance at 33.
*Immediate support at 30 or around 38.2%~50% retracement area (29.8~30.4).

Trading Plan
- For medium to long term position, accumulate near 30 or below.
- For short term position, buy on pullback using the Fibonacci retracement levels as reference. Observe any reversal patterns around the 38.2% ~ 61.8% retracement. Avoid if downtrend momentum continues without any sign of bottoming out pattern.

ALI: Inverse H&S + Bearish Shark pattern

Ayala Land Inc.

Potentially forming an Inverse Head-and-Shoulder pattern (bullish). A breakout from this pattern will have a measured target of around 42.

Also potentially forming a Bearish Shark harmonic pattern with potential reversal zone between 40~42.

Immediate support at 36.75.
Immediate resistance at 38.9

Trading Plan
- Test buy near the immediate support area with stop-loss just below 35.7 and a TP of 40~42 (risk/reward ratio of at least 1:3).
- Also a potential buy on breakout from Inverse Head-and-Shoulder pattern with an initial TP of 42.

Inverse Head-and-Shoulder pattern

Bearish Shark harmonic pattern