Sponsored Links

To retire by age 45, start with a plan.

"Is early retirement the right financial choice?" Jim Ellis discusses long-term financial growth strategies. I have blogged a...

Past blog posts now load week by week. The old style created a problem for some as the system would load 50 blog posts each time. Hope the new style is better. Search archives in box below.

Archives

"E-book" by AK

Second "e-book".

Another free "e-book".

Pageviews since Dec'09

FOLLOW AK ON FACEBOOK.

Recent Comments

ASSI's Guest bloggers

SoundGlobal: Breaking out of resistance.

Friday, December 7, 2012


I last added to my long position at 49.5c on 5 November 2012. For the reasons why I added to my long position then, please see my last blog post on the company.

Today, Sound Global's share price broke resistance and formed a long white candle on relatively high volume. A long upper wick was formed towards the end of the session. This tempers the bullish picture somewhat.



On the daily chart, the positive divergence which was spotted earlier is playing out. So, we had an early indication of a possible uplift in share price. Therefore, it should not surprise us that resistance was finally taken out although it was anyone's guess when it was to happen.



On the weekly chart, the MACD, a pure price momentum oscillator, looks to be on the verge of a bullish crossover with the signal line in negative territory. A rebound in price could meet with resistance presented by the flat 50w MA at 56c and the declining 100w MA which is currently at 60c.

Now, whether the counter's share price is able to finally form a higher high is anyone's guess although the higher lows formed in the MACDs of both the daily and weekly charts are very encouraging.

Fundamentally, SoundGlobal's valuation is undemanding. Technically, it does seem as if its share price has bottomed although we cannot say that for sure until a higher high in price is seen.

Related post:
SoundGlobal: Smart money is buying.

1 comments:

AK71 said...

China's economic growth may pick up to above 8 per cent in 2013, as economists expect the government to launch policies to boost recovery.

The country is expected to report 7.5 per cent this year, the slowest pace in recent years.

Economists say investment will remain as the pillar of growth the Chinese economy in the short term, despite the government's push for consumption.


http://www.channelnewsasia.com/stories/economicnews/view/1243793/1/.html

Monthly Popular Posts

 
 
Bloggy Award