Alliance Fiber Optic Products falls 0.1% on low volume for a second consecutive day, a two day fall of 0.4%

Alliance Fiber Optic Products (AFOP.O) fell 1.30c (or 0.1%) for a second consecutive day on Tuesday bringing its two-day fall to 4.0c or0.4%. Compared with the NASDAQ-100 index, which rose 50.6 points (or 1.9%) on the day, this was a relative price change of -2.1%. Support: the support price is hovering at the US$8.88 level. Volume traded at the weak support price zone was 0.3 times average during the nine occasions when the support price was breached. In the last month the lowest price was US$8.88 on Feb 24. The second lowest was US$8.89 on Mar 06, the third lowest was US$8.89 on Mar 07, the 4th at US$9.0 on Feb 15 and the 5th at US$9.02 on Mar 05.Resistance: previous rallies have been met with resistance at US$10.0. However, selling pressure at that level has been moderate; volume was 1.0 times average during the three occasions when the resistance price was breached in the last one month. In the last one month the highest was at US$10.0 on Feb 17, the second highest at US$9.97 on Feb 21. The third advance halted at US$9.80 on Feb 22.Trailing month: in the last 17 trading sessions there has been a net rise of 1.98%; the stock has advanced nine times and the biggest one day rise was 6.4% on Feb 17. Volatility: the stock traded between an intraday high of US$9.39 and a two-day low of US$9.25, suggesting a trading opportunity between peaks and troughs. The average daily volatility of 3.9% places the stock in the 3rd quartile in the market meaning it is mildly volatile.Discount to high: the last price is at a discount of 19.9% to the 12-month high of US$11.58 a year ago on 25 Mar, 2011.Premium to low: the last price is at a premium of 32.0% to the 12-month low of US$7.03 six months ago on 04 Oct, 2011.Rises to Falls: In the last three months the number of rises outnumbered falls 34:28 or 1.2:1.Beta: The Beta of this stock is 0.8. A Beta lower than 1 suggests this is a low risk, low return stock with volatility less than that of the market.Standard Deviation (SD): SD is a statistical measure of deviation from the mean. The SD of 2.7% gives it a percentile rank of 32 meaning that 32% of stocks in the NASDAQ market are less volatile than this stock. Trailing one week: the stock rose three times (60% of the time) and fell twice (40% of the time). The aggregate volume was 0.2 times average trading of 234,780 shares. The value of US$1,000 invested a week ago is US$1,016 [vs US$1,042 for the NASDAQ-100 index], for a capital gain of US$16(or rise of 1.6%).Trailing one month: the stock fell eleven times (55% of the time) and rose nine times (45% of the time). The aggregate volume was 0.4 times average trading of 1,033,032 shares. The value of US$1,000 invested a month ago is US$1,024 [vs US$1,050 for the NASDAQ-100 index], for a capital gain of US$24(or rise of 2.4%).Trailing one year: the value of US$1,000 invested one year ago is US$884 [vs US$1,189 for the NASDAQ-100 index], for a capital loss of US$116. The total return to shareholders for 1 year is -11.6%.Trailing five years: the value of US$1,000 invested five years ago is US$952, for a capital loss of US$48. Quarterly Report; year-on-year comparisons with previous corresponding period:In the quarter to September 30, 2011 total revenue was down 11.3% to US$11.8 million; net profit slumped 29.6% to US$1.5 million; EPS of 16.0c.Annual Report for the year ended December 31, 2010 (year-on-year comparisons with previous corresponding period)-Favourable Changes: a track record of profits in 3 of the last 3 years; total debt to net tangible assets down from 0.9% to 0.6%; total liabilities to operating cash flow ratio of 1.9 compares favourably with the Joseph Piotroski benchmark of less than 4, it had improved by 36.6% from the previous year.; Net tangible assets per share up 16.2% to $US6.76; Sales to total assets up 26.9% to 0.7.Unfavourable Changes: current ratio down 9.0% to 6.3; Working capital to total assets down 5.0% to 74.6%.Steady: total liabilities to total assets steady at 0.2.Major Common Size Ratios: total current assets to total assets down from 91.9% to 88.8%; short-term investments to total assets down from 55.7% to 54.5%; cash to total assets down from 14.9% to 11.7%; fixed assets to total assets up from 7.7% to 11.0%; current inventory to total assets up from 8.7% to 10.9%; cost of goods sold to sales down from 68.7% to 65.8%; profit before tax to sales up from 5.1% to 14.5%; profit after tax to sales up from 4.8% to 13.2%; Administration expenses to Sales down from 11.2% to 8.4%; sales and marketing expenses to sales down from 7.6% to 5.3%.