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Trendspotting (EzionHldg, STXOSV)
Trend Spotting | 01 November 2012
Related stocks:
5ME
By: Andy Yew
Articles (31) Profile

Ezion Holdings, one of the top performing stocks in 2012 has been trading in a strong uptrend channel since October 2011. Since mid-September 2012, it has been struggling to break the channel resistance as we see the price breaking up and falling back into the parallel channel. Looking at the moving averages (MA), the current price is below the 10MA and 20MA which heightens the risk of the price getting toppish at this level. However, the price is also near the short-term supporting trend line which indicates support at around $1.25 to $1.27. If the support is broken, this stock might go in to a short-term correction.

Chart of Ezion Holdings

STX OSV Holdings has been trading between the range of $1.28 to $1.70 since June 2012. After hitting the resistance at $1.70 in September 2012, it started to trend downwards in a slow manner recently. Looking at the daily chart, we see that the current price is bearish as it is below the 10MA, 20MA and 200MA support, where the three lines are interpreted as short-term, mid-term and long-term respectively. Furthermore, the Bollinger Band has been tightening in the previous month and seems to break loose with the price breaking through the 200MA support. This signifies to us that the volatility is about to increase sharply. In short-term, STX OSV is more downside bias, we may see this stock finding some support at $1.28 level.

Chart of STX OSV Holdings

Andy Yew graduated from the Royal Melbourne Institute of Technology University with a Bachelor in Business (Economic and Finance). He started trading equities since 2005; during his early trading days, he had a lot of setbacks and realised the importance of receiving coaching in trading. He is the founder of ART Stock Trading System – he began coaching in 2011 and has since conducted more than 100 seminars. Trading is his passion and his objective is to equip the retail investors with the right values and skills to invest successfully in the stock market. He joined Phillip Securities as a remisier in 2010, and was also awarded the “Top Newcomer 2010″ by Phillip CFD in the same year. He also actively blogs on stock analysis, you can check out his market view at www.andy-yew.com.
ANDY YEW is the founder of ART Stock Trading System. Trading is his passion and his objective is to equip retail investors with the right values and tools to navigate the market.

Please click here for more information about this author.

Ezion Hldgs  -- -- --   
Business: Co develops, owns, and charters offshore assets to support the offshore energy markets. [FY17 Turnover] Liftboats (49.7%), Jack-up Rigs (39.5%), Offshore Support Logistic Services (10.8%).

Insight: Aug-18, 1H18, Co returned to the black with a net ... Read More


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