Thailand Stocks: Energy Earth PCL (BKK:EARTH) Under Pressure

Thailand Stocks: Energy Earth PCL (BKK:EARTH) Under Pressure

Thailand Stocks: Energy Earth PCL (BKK:EARTH) Under Pressure

Energy Earth PCL (BKK:EARTH) is under substantial pressure at the moment however the stock is reading as oversold in here, if it can hold this range now it may well be able to recover.
The company almost doubled revenue but took a beating at the profit level sparking a sell off. Energy Earth Public Company Limited is a Thailand-based company engaged in the import and distribution of coal. The Company’s principal activities consist of the import, separation and distribution of bituminous coal for users in both domestic and overseas markets. The Company imports coal directly from coal mine in Indonesia and delivers products through marine vessels, as well as provides separation services specified by customers. It has a separation plant and warehouse in Sriracha district, Chonburi province. The Company distributes its products to customers in various industries, especially in textile, paper and food industries, as well as electricity plants. The Company’s subsidiaries comprise Energy Perfect Co., Ltd., PT. TRI TUNGGAL PITRIATI, Earth Power Plants Co., Ltd., Energy Earth (Hong Kong) Co., Ltd. and Guangdong Energy Earth Co., Ltd.

ENERGY EARTH closed unchanged at 2.140. Volume was 359% above average (trending) and Bollinger Bands were 1,214% wider than normal.

Open High Low Close Volume___
2.160 2.180 2.040 2.140 145,139,600

Technical Outlook
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 3.47 4.29 4.53
Volatility: 277 135 70
Volume: 255,968,288 53,639,384 17,253,370

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

ENERGY EARTH is currently 52.8% below its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect moderate flows of volume into EARTH.BK (mildly bullish). Our trend forecasting oscillators are currently bearish on EARTH.BK and have had this outlook for the last 27 periods. Our momentum oscillator is currently indicating that EARTH.BK is currently in an oversold condition.

HEFFX Candlesticks

A black body occurred (because prices closed lower than they opened).

During the past 10 bars, there have been 3 white candles and 5 black candles for a net of 2 black candles. During the past 50 bars, there have been 18 white candles and 22 black candles for a net of 4 black candles.

A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

The current market condition for ENERGY EARTH is:

Very Bearish

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 Below it’s 30 period moving average.

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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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