While the price of Ace Achieve has jumped by more than 7%, a significant increase in the number of shares traded is detected as compared to the average volume traded over the past 50 days. The MacD indicator had a bullish technical signal with the MacD line crossing over the signal line. However this bullish crossover is somewhat mitigated by the fact that the MacD line is still below the centerline.
Company Information
Background
The Company was incorporated in Bermuda on 11 June 2004 under
the name of Ace Achieve Infocom Limited.
Ace Achieve is a provider of telecommunications solutions and products in China, focusing on
the design and development of customised telecommunications solutions and products that are suitable for various telecommunication networks
such as fixed line, GSM, CDMA, CDMA2000 and PHS. Its telecommunications solutions and products enable its customers to establish and/or enhance
the efficiency and efficacy of their telecommunications networks as well as capture new markets and gain a competitive advantage through the
provision of resources and capabilities for new products and services beyond basic telephony.
Its key customers include
telecommunications companies in China, such as:
- China Unicom - China Netcom - China Telecom - China Mobile
Its businesses can be categorised into the following divisions:
- Telecom applications solutions - wireless coverage
solutions - operation support and business support systems - broadband data products
Trend: Consolidation with a potential bullish breakout bias
The benchmark STI remains sandwiched between the 20 and 50-day moving averages. Interestingly, a possible bullish crossover signal was spotted in the MACD trend indicator, which suggests a potential change in the trend. In addition, upside momentum is also building up as the Stochastic oscillator continues to inch upwards. In order to see a follow-through, the STI needs to break above the immediate resistance at 2952 to see a potential upside push towards 3043 next. On the other hand, a violation below the immediate support at 2910 may negate the potential bullish tone to see a slide towards the rising window gap support of 2886-2875.
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