Shares & Derivatives
Sound Global: Accumulate on weakness.
By A Singaporean Stockmarket Investor (ASSI)  •  October 17, 2012
Despite rather positive reports, the share price of Sound Global has been in retreat. Mr Market agrees with my earlier musings in July and August on whether it was a good time to sell, it seems. Mr. Wen Yibo has been accumulating shares of Sound Global in the last one month and currently holds 56.2% of the shares. He probably knows something that we don't but even if we do not know what he knows, what information is publicly available shows that the fundamentals of Sound Global are sound and that the business is growing.
Technically, Sound Global's share price is experiencing weakness since forming a double top two months ago. The top was at 62c and the neckline at 55c. This suggests a downside target of 48c. If we draw a trendline connecting the highs since early August, we see a resistance line that approximates the position of the declining 20d ......
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By A Singaporean Stockmarket Investor (ASSI)
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