The price of Adampak has decreased by about 0.5% while a significant increase in the number of shares traded is detected as compared to the average volume traded over the past 50 days. At 0.285, the stock is trading near its 2-year historical high. It is also observed that the MacD line is below the signal line indicating some short-term price weakness.
Company Information
Background
The Company was
incorporated in Singapore on 10 January 1979 under the name of Adampak &Print Pte Ltd and renamed to Adampak Pte Ltd on 9 July 2004. The
Company adopted its current name on 15 July 2004.
Admapak commenced operations as a label converter in 1979, producing customised
labels for companies in the manufacturing industry in Singapore.
Today, it has expanded into a regional group with manufacturing
facilities located in four ASEAN countries and in China, serving as a one-stop converting solution provider to the electronics, logistics,
medical and various other industries. It has also built a customer base that includes many multi-national corporations in the forefront
technology development and innovation.
Its product offerings include labels incorporating special features and precision die-cut
components.
Today, Adampak' advanced label product offerings include RFID ("radio Frequency Identification") tags for
tracking and control purposes, and security labels incorporating optical technology for the purpose of counterfeit detection. In addition, its
precision die-cut component offerings include adhesive free zone seals, dampers, insulators and bonding tapes produced in Class 100
Cleanroom.
Trend: Uptrend resumes as upside momentum gains strength
The benchmark STI has managed to trade back above the 20 and 50-day moving averages. The MACD trend indicator continues to inch upwards after the bullish crossover signal which indicates a start of a possible strong uptrend. In addition, the RSI oscillator continues to inch upwards above the overbought region which implies that upside momentum is still intact. On the upside, be on the lookout for the immediate resistance at 3043 and a break above it may trigger a rally to test 3085 next. On the other hand, a violation below the immediate support at 2910 may negate the bullish tone to see a slide towards the rising window gap support of 2886-2875.
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UOB Kay Hian Pte Ltd. All rights reserved. Company Registration Number 197000447W
UOB Kay Hian
Malaysian Resources Corporation Berhad
