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Silverlake Axis: Will It Resume Uptrend?
Trend Spotting | 04 June 2013
By: Robin Han
Articles (102) Profile

Silverlake Axis has been in a stable uptrend since February 2012. So far, I have not found any signals to indicate that this uptrend will end. In the last few days however, it pulled back. The pull back is actually quite healthy given that the share has gone up from $0.71 to $0.82.

Also, when the Straits Times Index (STI) dropped a lot, Silverlake managed to hold well and the pull back was shallow. The uptrend is likely to resume after the consolidation. The recent financial statement, which reported a 17 percent increase in profit, indicates that the company is growing and confirms the uptrend. One may consider buying on weakness during a pull back.

Daily Chart of Silverlake Axis

Robin Han is a Ph.D in Department of Chemical and Biomolecular Engineering and has got a solid foundation in the financial markets.

Please click here for more information about this author.

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