Evergreen has captured my interest because the stock appeared to have broken above its immediate medium-term downtrend line at RM0.70-72 as well as breaking above the 'Cup with handle' formation at RM0.74-75 level. The next resistance levels are RM0.95 & RM1.15.
Chart: Evergreen's weekly chart as at 4/6/2009 (Source: Quickcharts)
Based on the above technical breakout, Evergreen could be good for a trading BUY.
5 comments:
Hi Alex,
What do you think about MALTON? any comment about it?
Hi teh,
Malton has made a bottom. We may see a repeat of the strong oversold rally in the first half 2007 when the stock rose from a low of 26 sen to a high of 75 sen (in 3 waves over 6 months). Currently, Malton has completed the 1st wave. A break above 36/37 sen could signal the start of the 2nd wave. Strong support for this stock is at 32 sen.
Do check out its financial performance before buying into this stock.
i have bought a few..
I bought a few also but today sold it already...but not sold at highestprice of today
Evergreen used to be a good dividend yield stock.
Since it 'merged' with Hume, it has not been paying any dividend.
Can you advise the dividend policy of Evergreen?
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