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Tuesday, 13 June 2017

AsiaPhos: 13 June 2017, Tuesday, 8.50am Singapore Time

13 June 2017, Tuesday, 8.50am Singapore Time
(Click on Chart above to Enlarge)

Attached above is the technicals for AsiaPhos, a stock that is listed in the Singapore SGX. This stock has broken up the long term trend resistance band in yellow as indicated. It has also backtested successfully the yellow resistance-turned-support. The long term resistance is now the new long term support. There are 2 sharp price rejections of any selling in the market as highlighted in the dark green boxed region and the blue region. In fact, the second rejection of selling in the market was accompanied by sharp increase in prices coupled with sharp increase in buying volumes. This stock will create even more multi-year highs of the entire chart. Bullish.

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