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AP Strategic May Resume Uptrend Despite Bearish Market
Trend Spotting | 09 December 2013
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By: Robin Han
Articles (102) Profile

After consolidating with small candles over the past two months, the Straits Times Index (STI) moved down with big candles in the past few days. The market is now bearish and many stocks have suffered severe sell-down.

Asia-Pacific Strategic Investments (AP Strategic), however, is one of those few stocks that may still be in an uptrend. After consolidating at the support at around $0.20, the counter moved up to $0.35 exhibiting a sign of strength. In addition, both the MACD historgram and the Moving Averages are indicating an uptrend. Also, the pull back in the past few days was weak and slow.

One may consider buying on weakness during a pull back, and expect the uptrend to resume after consolidation. As the STI is quite bearish, it is advisable to set the entry price a bit low and stop loss relative wide to avoid potential wipe out.

From the fundamental perspective, the company announced its 1Q14 financial results on 11 November with it still mired in the red. Nonetheless, following the announcement, its share price did not drop much indicating that the market had accepted its current negative financial performance.

Daily Chart Of Asia-Pacific Strategic Investment

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.

China Real Estate Group  -- -- --   
Business: Co provides real estate agency services in Singapore and Hong Kong.

Insight: Aug-18, FY18 revenue, cost of services and gross p... Read More

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