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JFC price action analysis
Jollibee Foods Corporation JFC is potentially forming a Bearish Butterfly harmonic pattern with PRZ (Potential Reversal Zone) around 229.80 (228.80~231.50 range). In the short term, it will need to break the immediate resistance around 220 to give it higher probability of completing the harmonic pattern. The price action yesterday fails to break at close the immediate resistance at 220 and potentially formed up a Shooting Star candlestick pattern (considered a trend reversal pattern on confirmation). Trading Plan - Avoid for now if you are not in a trade yet. - The PRZ area is a potential profit taking zone.
GTCAP failure to break the downtrend line
GT Capital Holdings, Inc. This is just an update on the previous GTCAP price action analysis. GTCAP fails to break the 8-month downtrend line and correction followed after a bearish Hanging Man candlestick pattern confirmation See previous analysis: https://psetrends.blogspot.com/2017/04/gtcap-price-action-analysis.html
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