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Pacific Radiance: Will It Resume The Uptrend After Consolidation?
Trend Spotting | 11 March 2014
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By: Robin Han
Articles (102) Profile

Recently-listed Pacific Radiance’s moving averages are seen moving up. Its 7-day moving average is above the 13-day moving average, indicating that the stock is in an uptrend.

From the fundamental perspective, the recent financial statement released on 26 February reported nice growth: revenue increased 28.9 percent to US$168.6 million and profit attributable to equity holders increased 76.4 percent to US$56.8 million on a yearly basis. The report shows that the company is not only stable but expanding quickly.

In terms of recent price action, Pacific Radiance managed to hold well even when the Straits Times Index (STI) went down a bit yesterday, signaling another sign of strength. It can be seen that there is a strong resistance at $0.98, which has been tested a few times.

If the price goes above this resistance, it is likely to continue the uptrend and may even hit new highs thereafter. One may consider buying on breakout of the resistance to ride the uptrend, the stop-loss can be set below the recent low.

Daily Chart Of Pacific Radiance

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.

Pacific Radiance  -- -- --   
Business: Co is a provider of offshore support solutions with a fleet of more than 130 vessels. [FY17 Turnover] Offshore support services business (62.4%), subsea business (27.8%), complementary business (9.8%).

Insight: Nov-18, 9M18 revenue fell 5.7% to US$45.9m mainly ... Read More

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