Quickie on FLI
After hitting our initial target of Php1.85 (kindly refer to our previous post, “FLI me to the moon!”, HERE), Filinvest Land, Inc. (FLI) continued to move higher but was initially halted when it hit a resistance at Php1.90. Actually, it broke out from a bullish pennant pattern upon hitting the said initial target price. That breakout would bring FLI to its new target of Php2.00. After several days of getting stuck below PHp1.90, it finally reached the Php2.00 target last Friday. With FLI’s uptrend line still intact, it could even aim for some more.
FLI write-up from the Trading Edge Equity Advisor:
February 13, 2013
Last December 3, 2012, we noted that Filinvest Land, Inc. may aim for a target of Php1.85 as it had just broken out from a rectangle pattern at that time. After retracing back to the Php1.50 level following the initial breakout, FLI never looked backed. Today, FLI finally reached the said Php1.85 minimum target. However, it seems that FLI may seek for some more…
Taking a closer look at FLI, we noticed that it has just broken out from a bullish pennant pattern. Judging from the height of the pennant’s pole, FLI may inch higher to around Php2.00. Note by the way that the highest target price that is set for FLI by one of the top brokers is at Php2.10. Caveat.
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