Apex Development Public Company Limited (BKK:APX) Upgraded to Strong Buy

Apex Development Public Company Limited (BKK:APX) Upgraded to Strong Buy

Apex Development Public Company Limited (BKK:APX) Upgraded to Strong Buy

APEX DEVELOP closed unchanged at 0.420. Volume was 60% below average (consolidating) and Bollinger Bands were 15% narrower than normal.

Open High Low Close Volume___
0.420 0.420 0.420 0.420 211,300

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 0.42 0.42 0.44
Volatility: 25 27 29
Volume: 179,870 354,488 1,067,955

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

APEX DEVELOP is currently 4.1% below its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of APX.BK at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on APX.BK and have had this outlook for the last 0 periods.

Momentum

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 100.0000. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 10 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 50.45. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 138 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 22. This is not a topping or bottoming area. The last signal was a buy 3 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 0 period(s) ago.

Summary

The current market condition for APEX DEVELOP is:

Turning Bullish

The close is currently Below it’s 200 period moving average.
The close is currently Below it’s 90 period moving average.
The close is currently Above it’s 30 period moving average.

The Stock Exchange of Thailand (SET) and The Securities and Exchange Commission, Thailand (SEC) have considered and approved Apex to resume trading in the Stock Exchange of Thailand for the Property and Construction group, in the Property Development Sector starting from the 27th of March, 2017 onwards, after strictly adhering to the rules and regulations until the criteria for removal from delisting was achieved coupled with the continuous profitable in its operation years. The company is determined to conduct the business which yields good operational result under the policy of corporate risk management and corporate governance in a fitting manner.

The shareholders that are involved in the management of the company (Strategic Shareholders) of APX totaling 18 persons, holding ordinary shares of 1,649,917,500 shares (55% of its paid-up capital of 2,999.85 million Baht) have given their warrant to the Stock Exchange that they will not sell their securities within one year (Silent Period) from the day APX securities resumed trading. However, they have been granted permission that after 6 months, they may begin to sell some of their securities amounted to 25% of the total securities that were prohibited to sell.

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S. Jack Heffernan Ph.D. Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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