What is Happening to the iCar Asia Share Price?

Stock Market Analyze
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What does iCar Asia Ltd do?

iCar Asia Ltd [ASX:ICQ] owns a portfolio of automotive websites in Malaysia, Indonesia and Thailand. They also own an automotive magazine in Malaysia. Their strategy is focused on providing online advertising services and solutions to the automotive and related industries, across south east Asia.

That’s interesting, but what is the chart telling you?

What is the chart telling you?

I personally find it helpful to bring up a chart. Here’s the weekly chart of ICQ:

asx200

Source: STEX

It seems it is taking a while to get their business model off the ground. The share price was further down today. This is following news from last week that the expected loss for the first half of 2015 is around $7 million. The trend is down for now.

What now for ICQ shares?

Of course, if you can read a chart you knew that news was coming. A decisive break of the low from late last year will be decidedly bearish. If that should happen, it would then suggest further bad news for this company. Let’s wait and see.

You should endeavour to develop your chart reading skills. This will guide your buying and selling decisions. Go here to find out more>/strong>. You owe it to yourself to obtain this knowledge. You remain at a substantial investment disadvantage without it.

Cheers,
Terence Duffy,
Research Analyst, Cycles, Trends and Forecasts

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