I have been seeing dismal reports on the semi-conductor industry and so decided to pick a renowned company from that industry for a small little analysis. I picked
Chartered Semiconductor Manufacturing Ltd for its global recognition and standing. By the way, they have announced to release 3Q 2008 Mid-Quarter update press release on Sep 10, 2008, Singapore time.
Chartered is publicly listed on both NASDAQ and SGX (Nasdaq:
CHRT, SGX-ST:
CHARTERED). Chartered closed at S$0.395 on SGX on 9 Sep 2008, down 1.3% from previous trading day. Currently, Chartered is still trading on Nasdaq and is now at US$2.68, down 2.55%.
Technical analysis chart for Chartered is as below.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjMcYY0ieJleSnxSvAcFF-WTDn4usxKlung8TF5K2muk4oozkyhopackpKHDxggm5XTGWOF5U5uF5eVlymKc6dWAoIlF-S0J8L6ZY7KNoWSrOfkws-mdATs9BL6aTl39_t0soWc/s400/20080909-01.png)
Notice the Moving Average is moving in only 1 direction - DOWN. MA 14 and MA 25 are used in this illustration and it seems there won't be any rebound at least for short-term. The RSI tells it all - capitalization on this stock is on its way down.
No comments:
Post a Comment
Do provide your constructive comment. I appreciate that.