Here’s a potential bounce play on 8990 Holdings, Inc. (HOUSE). While the stock has recently fallen below its Php8.00 support, its floor at the resistance of a rectangle that it broke before has so far managed to keep it afloat. A bounce here can send it back to Php8.50. A move past Php8.50 may then send it towards the pattern target of a recent rectangle formation which is at Php9.00. Note that the lower shadow or wick that was cast and seen on yesterday’s candle is indicative of buying support around its present area. Still, a failure to at least hold above Php7.50 may bring it down to Php6.50.
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