Aztech Global Ltd (SGX: 8AZ), Daily timeframe, Apr–Dec 2025, last traded price 0.625.
📌 MARKET REGIME CLASSIFICATION — Ranging With Bearish Drift
Aztech is in a mature lateral distribution range between 0.620–0.705, with a slow bearish slope emerging from early October onward.
Volume is declining → signaling loss of demand, no strong accumulation, and no institutional sponsorship.
📌 TOP 5 INSTITUTIONAL-GRADE OBSERVATIONS
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Major Resistance Band 0.685–0.705 is repeatedly rejected with decreasing volume → classic distribution top.
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Support 0.650 failed in October, turning into supply → bearish CHoCH.
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Liquidity sweep at 0.620 in early Nov shows no institutional absorption → weak hands, not accumulation.
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Current micro-range 0.620–0.640 is tightening with volume compression, suggesting an upcoming volatility expansion.
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Fair Value Gaps (FVG) remain unfilled at 0.660–0.685 zone → confirms inefficiency driven by earlier sell programs.
1. Market Structure & Order Flow Analysis
Swing Structure
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SL: 0.530 → 0.550 → 0.610 → 0.650 → 0.620
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SH: 0.685 → 0.690 → 0.705 → 0.700 → 0.690
Structure since August shows:
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Lower highs forming (0.705 → 0.700 → 0.690)
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Lower lows forming (0.650 → 0.625)
➡️ Market structure shifting bearish (CHoCH at 0.660 break).
Break of Structure (BOS)
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BOS down at 0.650 (September end) → start of bearish progression.
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BOS down at 0.625 (November) → confirms sellers in control.
Momentum Decay
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Bar ranges compress from Aug (wide, impulsive) → Oct–Dec (tight, noisy).
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Overlapping bars indicate supply persistence and weak demand.
2. Advanced Volume–Price Relationship (VPR)
Key VPR Notes
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High volume near 0.685–0.705 with shallow closes → absorption by sellers.
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Declining volume during dips → lack of aggressive buyers.
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Low volume drifts lower → classic distribution unwinding.
Critical Observations
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0.620 low (Nov) printed on moderate volume, not capitulation →
❌ no accumulation
✔️ continuation weakness -
Volume clusters at 0.650 show failed attempts to reclaim support.
3. Institutional Footprint Recognition
Liquidity Grabs
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0.705 and 0.700 acted as liquidity magnets before sharp reversals → engineered stop hunts.
Order Blocks
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Bearish order block at 0.685–0.705 remains unviolated.
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Price respected OB → institutional sellers defending.
Fair Value Gaps
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FVG from 0.660–0.685 gap down remains open → suggests bearish imbalance left behind.
Displacement Moves
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Sell-off from 0.705 → 0.660 had strong displacement — no bid support.
➡️ Institutional side: net bearish.
4. Bar Pattern Recognition
Reversal Patterns
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Multiple upper-wick bars at 0.700 area → supply tail signatures.
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No meaningful bullish engulfing since early September.
Continuation Patterns
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Numerous inside bars in Nov–Dec → energy compression before a larger leg.
Indecision Bars
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Spinning tops around 0.630–0.640 reflect a pre-breakdown equilibrium, not bullish.
5. Multi-Timeframe Confluence
Weekly structure:
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Lower highs since Q2
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Weekly rejection wicks at 0.705
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Weekly support around 0.600–0.620
Daily range aligns with weekly distribution:
➡️ No higher timeframe buy signal.
6. Psychological Level Integration
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0.600 = major psychological magnet
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0.650 = earlier midpoint, now resistance
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0.700 = round-number trap for retail longs
ATR compression → volatility expansion incoming.
7. Risk-Adjusted Setup Identification
High-Probability Zones
| Zone Type | Price Level | Action |
|---|---|---|
| Short Re-entry | 0.650–0.660 | OB + FVG + structural supply |
| Breakdown Trigger | <0.620 | Vacuum below → target 0.595 |
| Bullish Validation Only | >0.685 | Clears supply wall; opens 0.705 |
Targets
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If breakdown: 0.600 → 0.585
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If reclaim 0.660: 0.685 then 0.705
Invalidation
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For bulls → breakdown below 0.620
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For bears → reclaim above 0.660
8. Market Regime Classification
✔️ Ranging / Late Distribution → Bearish Transition Stage
Characteristics:
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Lower highs
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Failed demand tests
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Supply pressure dominating
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No accumulation signatures
9. Institutional Supply/Demand Analysis
Demand Zones
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0.620 = weak demand (tested twice with weak bounce)
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0.600 = stronger, but likely first magnet before real buyers appear
Supply Zones
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0.650–0.660 strong
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0.685–0.705 extremely strong
Effort vs result:
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Large effort near 0.700 → poor upward progress → supply dominance.
10. Market Context
Aztech is a small-mid cap SGX electronics exporter → sensitive to:
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Global consumer electronics cycle
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USD/SGD strength
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China manufacturing trends
No catalyst-driven spikes recently → purely technical drift.
📌 FORWARD-LOOKING BIAS
Primary Bias: Bearish within range
Unless 0.660 is reclaimed, the dominant path is:
➡️ 0.625 → 0.620 test → 0.600 liquidity zone
Key Levels to Watch
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0.660 — bull reclaim threshold
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0.620 — breakdown trigger
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0.600 — likely magnet
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0.685 — only above here turns bullish
Disclaimer:Please note that this analysis is for educational purposes only and should not be taken as investment advice. Trading involves significant risk, and you should consult with a financial advisor before making any decisions.
Dividend: 12.80%
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