The market declined further today to 4266.45, closing lower by 29.17 points or 0.68%. Decliners outnumbered gainers, 30 to 81, with 36 unchanged.
Rate of change seems at the bottom already and a bounce is now possible in the short term.
Top gainers with significant volume today are MRC +8.82%, CEB +6.41%, and JFC +2.64% Top losers for today are ALCO -9.72% after gaining 21.35% yesterday, AGI -6.24%, and RFM -4.29%.
AEV finally caved in to further selling pressure, closing lower by 1.71% at 34.40. Declining momentum and rate of change suggests further decline in the short term with possible support at 33.50.
Possibly forming a ranged or an ascending triangle pattern.
Initial target: P45
AP remained strong in the current market condition, closing lower by 0.50% only, closing at 30. However, momentum and rate of change are still both declining suggesting further decline in the short term.
Possible support at 28.65-29.30 (gap) levels.
Initial target: P35
Will write an update on my watch list later.
AP is up by 10.83% within thirteen trading days with doubled up position.
AEV is slightly higher from entry(34.10) within three days. Break-even at 35.07.
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