• Downtrend Break Led to a 17% Gain in Trans-Asia in 2 Weeks!

    Downtrend Break Led to a 17% Gain in Trans-Asia in 2 Weeks!

    In our Equity Advisor issue last February 28, 2016, we noted that Trans-Asia Oil and Development Corporation (TA) would extend its run-up following its escape from a primary downward sloping resistance. The same event happened to coincide with a break from a bullish reversal as well. Following its rise over the Php2.20 hurdle, the stock has indeed risen and achieved its initial price objective of Php2.60, giving it a gain of a little over 16% in literally just 2 weeks! Note that an ability to sustain its rise over its interim resistance at Php2.60 may continue to lead it higher towards its next supply level at Php2.80.

    TA write-up from the Trading Edge Equity Advisor:

    February 28, 2016

    A solid combination of fundamental catalysts plus a technical price event should easily support the rise in Trans-Asia Oil and Energy Development Corporation (TA). First, the company has reported a consolidated net income of Php905.80 million in 2015, which was a 403% surge from its 2014 income of just Php180 million. Note that the company has also declared a cash dividend of Php0.04/share. Technically, TA has also breached a downward sloping resistance line that has kept it in check for more than a year. With its rise over the Php2.14 resistance, TA may now be able to freely move higher until it encounters another hurdle at Php2.60.

    trans-asia oil and energy development corporation TA downtrend break bullish reversal 02.28


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