{"id":19973,"date":"2011-03-07T08:05:58","date_gmt":"2011-03-07T13:05:58","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=19973"},"modified":"2011-03-07T08:05:58","modified_gmt":"2011-03-07T13:05:58","slug":"unappetizing-outlook-for-jollibee-foods-corporation-jfc","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/03\/07\/unappetizing-outlook-for-jollibee-foods-corporation-jfc\/","title":{"rendered":"Unappetizing Outlook For Jollibee Foods Corporation (JFC)"},"content":{"rendered":"<p><a href=\"http:\/\/www.laidtrades.com\/wp-content\/uploads\/2011\/03\/jollibee-foods-corporation-JFC-March-2-2011.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-8243 size-medium\" title=\"jollibee foods corporation JFC March 2, 2011\" src=\"http:\/\/www.laidtrades.com\/wp-content\/uploads\/2011\/03\/jollibee-foods-corporation-JFC-March-2-2011-300x170.png\" alt=\"jollibee foods corporation, JFC philippines, Tony Tan Caktiong, Ron Acoba, stock market trading, daily stock picks, head and shoulders\" width=\"300\" height=\"170\" \/><\/a><\/p>\n<p>Most  Filipino kids love the food, especially the Chicken Joy, at Jollibee.  While the children in general love it, its owners, the shareholders,  might not feel the same in the near future. Let me tell you why.<\/p>\n<p>Well, from a technical point of view, the shares of Jollibee Foods  Corporation or JFC in the Philippine Stock Exchange could face some more  downside. As you can see from its daily chart above, JFC had broken  down from a head and shoulders pattern and its 200-day moving average  when it made a bearish breakaway gap last January 28. In a couple of  occasions, the psychological PHP 70.00 level acted as a support to push  it back to PHP 80.00. However, the neckline of the head and shoulders  and the former support at its 200-day moving average prevented it from  going higher. From then on, JFC weakened again and is now trading just  below PHP 72.00.<\/p>\n<p>By the looks of it, JFC&rsquo;s outlook will even be bleaker. If you  measure the height of the head and shoulders pattern and project it  downwards from the point of breakdown, you will get a downside target of  somewhere below PHP 60.00. JFC, though, would like see the PHP 60.00  level as a support since it already acted as a resistance previously and  was an area of interest as well. So since its downside target has not  been reached yet, you could expect it to approach that level unless it  is able to rally past PHP 80.00. <\/p>\n<p>More on <a href=\"http:\/\/www.laidtrades.com\/\">LaidTrades.com<\/a> &#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Most Filipino kids love the food, especially the Chicken Joy, at Jollibee. While the children in general love it, its owners, the shareholders, might not feel the same in the near future. Let me tell you why. Well, from a technical point of view, the shares of Jollibee Foods Corporation or JFC in the Philippine &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/03\/07\/unappetizing-outlook-for-jollibee-foods-corporation-jfc\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Unappetizing Outlook For Jollibee Foods Corporation (JFC)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-19973","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=19973"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19973\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=19973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=19973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=19973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}