Chart 1: RHBCap's weekly chart as at July 26, 2010 (Source: Quickcharts)
Chart 2: RHBCap's monthly chart as at July 1, 2010 (Source: Tradesignum)
Based on the technical breakout, RHBcap could be a trading BUY.
Tuesday, July 27, 2010
RHBCap surpassed its 2007 high
RHBCap has just broken its 2007 high of RM6.29-30 yesterday (see Chart 1). Its next resistance would be the horizontal lines at RM6.70 & RM7.00 (see Chart 2).
Chart 1: RHBCap's weekly chart as at July 26, 2010 (Source: Quickcharts)
Chart 2: RHBCap's monthly chart as at July 1, 2010 (Source: Tradesignum)
Based on the technical breakout, RHBcap could be a trading BUY.
Chart 1: RHBCap's weekly chart as at July 26, 2010 (Source: Quickcharts)
Chart 2: RHBCap's monthly chart as at July 1, 2010 (Source: Tradesignum)
Based on the technical breakout, RHBcap could be a trading BUY.
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2 comments:
What do u think abt KYM? Volume just increase the 2 days.
Hi khoo
KYM is a marginal property investment & development. It sold 409 acres of land in Lumut for RM101.8 million to Vale, the world’s second largest diversified metals and mining company who planned to build a iron ore pelletizing plant thereon. In the process, it realized a gain of RM16.6 million. It has granted an option to Vale to buy additional adjoining land of 756 acres for RM93.7 million.
Based on its closing price of RM1.40 yesterday, it is trading at a Price to Book of 2.5 times (based on net assets per share of 56 sen as at 30/4/2010). At this multiple, KYM is richly valued.
Despite the above, KYM has been rising steadily & may revisit its recent high of RM1.47-1.48 recorded in March 2010. Can it surpass this level? If not, this would be a good level to take profit.
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