In our Equity Advisor issue last November 27, 2016, we noted that Agrinurture, Inc. (ANI) would start its advance and aim for at least Php5.00 following its release from an inverse kilroy formation. A little over 2 months since then, one can see that the stock has indeed achieved the mentioned goal and more. Moving forward, it appears that the stock is on track to revisit its former peak at around the Php5.73 to Php5.82 zone. While it may first hit a resistance at the mentioned area and turn down again, its approach places it closer to a possible long term bullish reversal later on. Caveat.
ANI write-up from the Trading Edge Equity Advisor:
November 27, 2016
Agrinurture, Inc. (ANI) may draw some market interest in the very near term. As you can see, the index has just turned out of a bullish reversal in the form of an inverted head and shoulders. Given its rise over its neckline resistance of Php4.00, ANI may then swing north and reach for Php5.00. Note that a possible rise past Php5.00 may then send it towards its next hurdle at Php5.82.
*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!
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