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Tuesday, September 09, 2008

Semiconductor Chartered Stock Battered

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.

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.
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