Bottom-fished Vista Land (VLL) Using Fibonacci
In our Equity Advisor issue last January 27, 2016, we noted that Vista Land & Lifescapes, Inc. (VLL) had most likely found its bottom and that it was already primed for a major rebound with a target of Php5.00. Fast forward to today, one can see that the stock has indeed found a bottom at around Php3.65 and had since reached for Php5.00 and more, giving it a gain of at least 33%. Moving on, VLL may once again pivot lower as it hit a resistance at the 38.2% Fibonacci rally level of its prior downtrend. A resistance there plus a presence of a hidden bearish divergence (negative reversal) between its price and RSI suggest that the stock may revisit its previous low of around Php3.68.
VLL write-up from the Trading Edge Equity Advisor:
January 27, 2016
Vista Land & Lifescapes, Inc. (VLL) is now primed for a major rebound. As you can see from its chart, the stock appears to have found a support at its prior resistance at Php3.54. This particular mark looks to be durable enough to lead a rally due to the fact that aside from it being a prior resistance, a 61.8% Fibonacci retracement level can also be found here. In any case, VLL may likely pivot higher and head towards its nearest resistance at Php4.88 to Php5.00.
_____
To know more about the Trading Edge Equity Advisor, kindly click HERE. Subscribe now to receive email alerts before the price moves! 🙂
*Consensus target price or average target price given by the major foreign and local brokers of various stocks on top of index names are available in our Equity Advisor!
For more information, you may send us a direct message here or text/call (+63) 917 899 90 09.
