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.

MEG hit the recent breakout TP

Megaworld Corporation

MEG has recently hit the measured TP from a bullish Pennant pattern breakout at 4.75.

See previous analysis for reference on recent breakout pattern:
https://psetrends.blogspot.com/2017/04/meg-breakout-update.html

Trading Plan
- Take some profit or scale down position.
- Profit run the rest of the position.

VLL price action update

Vista Land & Lifescapes, Inc.

VLL has retested the upper end of the projected price target from a Downward Price Channel breakout at 5.50 (projected TP range = 5.40~5.50).

*Immediate resistance zone is also around 5.40~5.50.

See previous analysis for reference:
https://psetrends.blogspot.com/2017/04/vll-price-action-analysis.html

Trading Plan
- Take some profit or scale down position.
- Profit run the rest of the position with trailing-stop.

PHEN harmonic pattern update

PHINMA Energy Corporation

PHEN continues to form a Bullish Shark harmonic pattern and potentially completed the first significant retracement of the pattern at 88.60% (the first PRZ or Potential Reversal Zone).

Downside risk remains towards 113% retracement, its second PRZ.

See previous analysis on this harmonic pattern for more details:
https://psetrends.blogspot.com/2017/02/phen-on-potential-shark-harmonic-pattern.html

Trading Plan
- Trade this setup once the harmonic pattern has been completed.
- Observe for reversal patterns around the two PRZ areas for potential trading opportunity.

PCOR breakout update

Petron Corporation

PCOR is on breakout continuation after breaking the 11-month downtrend line. Projected target price from this breakout is around 11.80.

See previous analysis for details on prior breakouts:
https://psetrends.blogspot.com/2017/05/pcor-price-action-update.html