The volume of Sinostar PEC has been fishy for these few days. I
think someone has been accumulating the shares lately other than the CEO Li
Xiang Ping himself who has now about 57.16% shareholding.
Fundamentally, the quarterly earnings (in RMB cents) have been solid
although there was a blip in 2Q2019:
3Q2019 3.48
3Q2019 3.48
2Q2019 (0.29)
1Q2019 5.07
4Q2018 2.61
Sinostar PEC weekly chart: Inverted Head and Shoulders
It closed at 21.5 cents today, 27 Nov 2019. The price should rise above the neckline of the big head and
shoulders pattern, signalling a breakout of the pattern to hit its next
resistance at 31 cents. Let’s see.
