GP Batteries... Are they durable?

Let's take a look at this counter. For fundamental data, you can visit Reuter and check this counter. Price/book ratio is ~0.55 compared to industry of 1.99. P/E is also low, at 6.09 compared to industry of 8.53. ROE is 8.99, slightly lower than what I prefer (i.e. >15). It looks like a healthy company with dividend! Anyway, take a look at the technical picture.

From the daily chart, the first thing that catches my eye is the volume traded. Liquidity is generally very low for this counter, with 50VMA standing at 60,000 shares. Another thing about volume is it has been shrinking consecutively after the explosive volume spike between last year Mar to April time frame. Price range is tight for each trading day, and there is also frequent price gap out. Moving averages are all sloping downwards, and momentum is weakening faster than overall market. This are signs of deteriorating sentiments.

A possible area to look at is the nearby support 1.25. There may be a short re-bounce at this critical level though further confirmation is required to signal a change in the downside bias.