SINGAPORE (April 21): In our Hot Stocks technical analysis section, we take a closer look at six tech stocks which appear to have sidestepped the industry's fatigue and whose uptrends remain intact.
Selected tech stocks such as Venture Corp ($12) have made new all-time highs in terms of both price and quarterly momentum. Others like Addvalue Technologies (4.7 cents), whose quarterly momentum is in a recovery phase, appear to be gaining strength.
Stocks that have made accelerated gains this year are likely to move into consolidation and corrective phases.
Among the last are AEM Holdings ($1.48) and Global Testing Corp ($1.41), which appear ready to consolidate gains. Resistance has been established at $1.58 and $1.46 for AEM Holdings and Global Testing Corp respectively.
Indicators for Avi-Tech Electronics (43 cents) have weakened and now point to a continued corrective phase, although the main uptrend should remain intact as the rising 50-day average is at 37.6 cents.
Interestingly, blue chip ST Engineering ($3.78) is testing a thrice-tested resistance and may attempt a breakout if volume expands. A successful breakout will provide the impetus for prices to test $4, an important resistance.
For the full overview and analysis, pick up the latest copy of The Edge Singapore, (Issue 776, week of April 24), available at newsstands now.