ASP : In need of stronger flows if 2.80 is to be taken out

ASP has tested the 2.80 resistance 4 times so far this month, so a breakout here should see a move to 2.94-2.96 if not 3. However volume is a tad light, and will need to increase to the 25-30m shares / session level if a successful break is to be seen in the near term. Key support for the stock is seen at 2.68-2.70, and unless the market holds north of 973 ASP could well retest this support again.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: