Asiaphos – Surged Up With Volume
Asiaphos is a company solely focused on exploring and mining phosphate in the PRC with the ability to manufacture and produce phosphate-based chemical products. More can be read over here .
Asiaphos has caught our attention because there was a huge surge in Volume today and it has broken out of its long term trendline. The volume increased today was quite significant and such volume has never been since for a few years. Hence we are taking note of this stock.
There is just a horizontal resistance at 0.105and if it clears that we might see 0.12 eventually. How would we play such a stock at this point? We will either wait for a retracement to the downtrend line and if that supports around 0.095-0.098 region then we might consider an entry OR if it decides to break the 0.105 resistance.
As this is a Micro Penny Stock , STOP LOSS is very important and we would manage our lot size accordingly too. Our stop loss would be 0.093-0.095. Also as a micro penny stock it can have wide swings too so do take note of that.
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