JFC is now at support zone

Jollibee Foods Corporation

JFC is now at major support zone at 175.50~184.60 range. The relatively longer candlestick body on the 4th day of consecutive down days (together with a huge volume), may potentially suggest an exhaustion bar due to panic selling.

*Monitor for reversal pattern at major support area.

JFC Consensus
Rating: Overweight
Target Price Forecast:
   - TP High = 260.00
   - TP Med = 229.50
   - TP Low = 173.00
   - Avg TP = 220.63

Trading Plan
- Buy the reversal pattern at support zone on confirmation (set stop-loss a few points below 175.50).
- For a high risk play, accumulate in tranches the dips in the major support area (or lower towards 170) for a position trade.



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