Since prices are so far above the 50-day moving average which is at 11.07 cents compared to the Sept 26 closing price of 19.1 cents, prices could ease to 18 cents initially, which if breached could see the stock ease towards 16 cents.
Small-caps are attracting attention, and the Straits Times Index (STI) has languished. For instance, from mid-August to Sept 18, ASL Marine had tripled in price. On Aug 29, the company announced its FY2025 results for the 12 months to June 30, where net profit (patmi) had risen by more than 272% to $14.6 million. Of this, more than $12 million was recorded in the Jan-June half year.
Technically, a negative divergence has appeared on ASL Marine’s chart, and prices have indeed run ahead of themselves. On the chart pattern front, prices have fallen out of an ascending right triangle which is a suggestion of a consolidation phase ahead.
