Friday, March 17, 2017

COULD THIS STOCK BE THE NEXT MULTI-BAGGER?

Moya Asia
I last blogged on Moya Asia sock in February 2017; you can refer to the post here . Since then the stock has been trading in a tight consolidation pattern with a support at $0.067. Yesterday, the stock traded on high volume, closing the day at 7.2% higher with a upward bullish candlestick. The 5-Days Moving Average which has traded below the 20-Days Moving Average seems to be making an attempt to break the 20-Days Moving Average higher. The RSI seems moving to higher overbought regions. On a general trend, Moya Asia stock is still on a long-term uptrend. And if my judgment is correct, Moya Asia stock could become the next Alliance Minerals stock as it moves slowly to the 10 cents per share mark. However before Moya Asia stock reaches that higher level, the stock is bound to undergo a series of “waves movement”.
Notwithstanding the above, Moya Asia stock is still a penny stock and many investors might still prefer to shun penny stocks after the penny stocks saga. However, after looking at the trading charts and the nature of the business, I must say that this is one selective penny stock I am looking at. Please do not treat this as an investment recommendation; just sharing my thoughts. Please do your own due diligence. Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.

Related Posts Plugin for WordPress, Blogger...

Popular Posts

Total Pageviews