Jollibee Foods Corporation (JFC) November 2016

Price was dragged down by foreign selling. Critical support seems to be at 50% level. The weakness does not look good, considering that it recently released an increase in profit. Jollibee income expands 10% in 9 months, 3.5% in Q3. This might be a sell on news, or it might be part of something bigger as foreign investors continue to pull out hot money from the PSE.

We might see the price bounce to 215-226. You may want to sell at those levels.

-RSI: oversold
-Stochastic: oversold
-ADX: trending down



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