FLI me to the moon!
Well not exactly to the moon but Filinvest Land’s prospects, at least from the technical perspective, remains promising. As can be seen from its chart, FLI basically had been sleeping as it had been trading within a slightly downward sloping channel or rectangle. It was only roughly a month ago when it broke above the said channel. After reaching a high of Php1.66, profit taking set in and now FLI seems to be making a ‘return move.’ Some support may be met at the Php1.50 level. If FLI slips below that, its next stop may be at the channel’s previous resistance at just above Php1.40. Still, FLI may reach a minimum upside target of around Php1.85 (gauged by projecting the height of the channel from the point of breakout) as long as it does not fall back in the channel or below Php1.40.
