JFC price action update

Jollibee Foods Corporation

JFC fails to break the immediate resistance around 220 and formed up a Shooting Star candlestick pattern (bearish). The confirmation candle today also transforms the bearish candlestick pattern to an Evening Star pattern, considered a reversal pattern.

*Immediate support area is around 210~212.
*If immediate support area fails to hold, the Bearish Butterfly harmonic pattern will like be invalidated.

See the previous analysis of this bearish candlestick pattern and harmonic pattern including appropriate trading plan:
https://psetrends.blogspot.com/2017/05/jfc-price-action-analysis.html


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