Listed Ayala Corp. ended the previous trading week in the red as its shares moved sideways.
The shares of Ayala Corp. slipped by P14 or 1.67 percent to end at P826 apiece on Friday, which prompted the stock to decline 2.25 percent week-on-week.
AAA Equities head of research Christopher Mangun said the diversified conglomerate has recovered all its losses for the year but its shares have been moving sideways for the last few weeks.
Mangun sees the stock continuing lower to its support level of P805 and does not expect a lot of volatility from it until the end of the year.