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.
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