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Ezion Holdings: Will It Resume The Uptrend?
Trend Spotting | 16 August 2013
By: Robin Han
Articles (102) Profile

Ezion Holdings has been one of the strongest stocks in the market over the past week. From the weekly chart, we can see that it has been in a nice uptrend for quite some time and it made a new all-time high recently. From the daily chart, we can see that it did not have a severe sell down after it pulled back, which is a sign of strength. Yesterday, when the Straits Times Index (STI) dropped 27 points, it managed to hold up as well, indicating another sign of strength.

From the fundamental perspective, Ezion posted a strong earnings report and proposed a bonus issue on 7 August. It is positive news for the stock and Ezion is likely to resume uptrend after consolidation.

One may consider buying on weakness during a pull back as we expect that it may resume the uptrend. As the STI gapped down because of an overnight drop in the US market, it will be safe to queue at the lower end of zone between two moving averages to avoid a potential severe drop in the market.

Weekly Chart Of Ezion Holdings


Daily Chart Of Ezion Holdings


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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