Property Sector Update

PROPERTY SECTOR

- Last Dec 7, I posted a chart that Property sector is forming a head and shoulders top pattern. Now forming the right shoulder... Price is now below the 20 and 200dMA. More bearish signal to come if it will move down from the neckline and 50dMA. MACD line now just below zero showing some bearish momentum there. Anyway, this still has a chance. I hasn't confirmed the pattern yet. Hopefully we get a good bounce from the neckline / 50dMA. For reference, click to check my previous post re - Property Sector Forming a Possible Head and Shoulders Top Pattern 

ALI 

- If you look at the updated chart, it already moved down the neckline, 50 and 200 dMA. RSI confirming the the breakdown as it is also making lower lows. MACD line just crossed zero... bearish signal. For reference, click to check my previous post re: ALI - Ayala Land, Inc. 

DMC

- Might retest the triangle's resistance line at around 38... Still no strong bullish signal for DMC after price moved out of the triangle. For reference, click to check my previous post re: DMC - DMCI Holdings Inc.

MEG
- From a high of 1.81 it went down to 1.70 and closed at 1.72. Price now below the 50dMA. Let's see if it will bounce on the neckline negating the head and shoulders top pattern.

BEL
- This needs some rest... RSI and Stochastic saying that this is already overbought... K line about to cross the D line. MACD shows positive momentum and up trend is getting stronger. Fibonacci shows that support lines are at 4.62 (38.2%), 4.50 (50%), and 4.38 (61.8%).