Aztech

Fig 1 Aztech weekly chart

This is an old company that I worked or between 1993 till 1998. It started off as a computer manufacturer who then moved into Multimedia and competed with Creative. the company was listed in 1994 with a starting price of SGD0.80. It was the first share that I have bought, I did not really make any money out of it, my first time. I left this company in the end of 1998 when they finally shut down their Singapore manuacturing site. I have not looked back since.

Recently I have received some up-dates on Aztech from an old colleague of mine who still work there. They are still into Electronics but moved most of its operation to China, even major part of R & D. Afterall, Michael Mun is from Hong Kong. They also got involved in Logistics and Constructions. This seems to be a strange diversification considering that they were never in this line. Nevertheless, Michael Mun used to run a Restaurant which Electronics has no link neither. In addition, the son seems to be taking over the management.

As I look at this chart, it is very interesting to me. The stock has gone bottom by 1998 and it has been more than 11 years in bottom formation. The structure creates a potential tripple bottom and the latest low looks like the bottom of the final Bottom. The stock is resting at 0.175 at the moment. Should this structure hold, its objective would reach as high as SGD1.44. Its present support level is 0.082 and I gather that next resistance level is 0.32. However, judging from its past performance, it might take another 1/2 a year to reach its neckline.