Chart: GenM's weekly chart as at August 17, 2010_9.20am (Sourece: Quickcharts)
GenM could be a good trading BUY.
Tuesday, August 17, 2010
GenM may have a bullish breakout... finally
Gentimg Malaysia Bhd ('GenM') has finally broken above its strong horizontal resistance at RM2.90 as well as the next resistance at RM3.00. Based on this, I believe GenM may rise further. The stock is doing catch-up with its parent, Genting Bhd as well asGenting Singapore- both stocks have a huge rally in the past few days.
Chart: GenM's weekly chart as at August 17, 2010_9.20am (Sourece: Quickcharts)
GenM could be a good trading BUY.
Chart: GenM's weekly chart as at August 17, 2010_9.20am (Sourece: Quickcharts)
GenM could be a good trading BUY.
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31 comments:
Alex,
Cuscapi Bhd breakout with volume today.Strong 2nd quarter numbers.
What does the chart say?
Hi Richard
Cuscapi Bhd has a bullish breakout above the horizontal resistance of RM0.145. As noted by you, the company announced its 2nd quarter results which is a significant improvement over its immediate preceding quarter's results. If it can maintain its performance for the next few quarters, its full-year earning would be about 5.2 sen. Its PER would be only 3 times. Can it do so?
For now, I think the stock could be a trading BUY. We will wait for another quarter to see whether it could be tagged a longer-term investment.
Hi Alex,
Appreciate yr super prompt response.
Indeed the test is the next 2 or 3 quarters' results.My guess would be they need another RM4 mil or so for the next 2 quarters to qualify for Main Board .Plus they have over 1,000 shareholders on hand.
Moving to Main Board will give them the next leg up,imho.
Hi Alex,
Can you comment on JCY and UNISEM?
Thanks
hi alex. i still hold some Proton, should i sell now or hold ?? Proton share price look like corner by someone. please comment. thx alots
Hi jonker
I will give my technical view. JCY has formed a short-term uptrend with support at RM1.20-22. Its resistance is at the horizontal lines at RM1.30 and then at RM1.40. UNISEM found its strong horizontal support at RM1.90 & rebounded. Its immediate resistance is at the horizontal lines at RM2.20 & then at RM2.40.
Hi wong
I don't think Proton has been cornered by anybody. Hard to imagine anyone would want to corner a stock like Proton. It however looks like it may swing up soon. If that happened, you should watch out for the recent high of RM5.00-5.03. If it can break above that level, it may have more upside (possibly testing the RM5.40-5.50 level). However, it may not be able to break through the RM5.00 resistance. If it failed to do so, you may want to say goodbye to this stock & move on to something else.
Hi Alex,
Can you comment on Green Packet, please !
I have been patient since i hold this share @ RM1.10. Another bigger lost last quater. Please advise the right strategy for Malaysia technolgy like GP.
Regards.
AL
Hi Alex ,
Can you please share your inputs on Fajar ?.
Hi Alex,
What is your view on TCHONG?
Looking forward to your two-cents' worth.
Thanks.
Any idea on TM share as well? Thx
Hi Stephanie
For a while, investors were hoping that Fajar would get the LCCT job, which eventually goes to UEM-Bina Puri JV. The job value is about RM997mil. Without this job, Fajar would have to find something new to excite investors. What would that be?
Its EPS for the 9-month ended 31/3/2010 is about 11.3 sen. That means Fajar (closed at RM1.04 yesterday) is trading at a PER of 7.4 times- not excessive.
Chartwise, it would face strong resistance at the medium-term downtrend line at RM1.08. Can it break above that downtrend line?
hi Alex,
i notice Muar Ban Lee PE is quite low and its dividend yield 5 which is quite good. What is your take on this company?
thanks
maxwealth88
Hi Alex,
Any comment on Airasia? Recently has reach its highest of RM1.72. What is the support price?
Hi Alex
GenM's breakout with huge volume. But it doesn't seem sustainable. Is this considered a fake breakout?
Hi Ivan
TM may have broken above the strong horizontal line of RM3.40-42. As such, the stock may continue to rise.
Hi Smile
TChong is on the verge of surpassing its recent high of RM5.10-20. However, one must be careful because of the following:
1) A breakout failure could lead to a sharp reversal as the stock would put in a double top instead of a newer high; and
2) A few indicators are showing negative divergence.
On the fundamental front, TChong story is very bullish with diversification to 2 new markets in Vietnam & Cambodia as well as into new business of property development involving its Segambut land.
The question to ask is whether the good fundamental story has been fully factored into the price. Has it?
Hi JY
I don't think GenM's breakout is a fake breakout. However, the stock has been very lethargic & even its breakout came very late- a full 2 days after Genting & Genting SP have galloped a long way. As long as GenM does not fall back below RM2.90, the breakout is still valid.
Hi Lim
Airasia has a nice breakout above its strong horizontal resistance at RM1.45 at the end of last month (I missed that).
Its next strong resistance is the horizontal lines at RM1.80-85 & then RM2.00-2.10. In event of a pullback, Airasia can find support at the medium-term uptrend line at RM1.55.
Hi MaxWealth88
Muar Ban Lee ('MBL')'s earning fluctuates quite sharply. For the 3 reported quarterly earning, we have net profit of RM1.1 million to RM2.8 million. Such as big swing would raise doubt as to sustainability as well as the quality of its income.
You also mentioned about its dividend- an interim & a final dividend totaling 4.5 sen. Dividend payout is normally impressive on the first year of listing. It would taper off after a while. It is also tied to income. All in all, we need to watch MBL's performance a bit longer to form an opinion on this stock.
hi alex,
please comment on RCECAP. It announces good dividend
thanks
TQ Alex for comment on TM share. By the way, where is the resistence level, as I can't find at my own d. .?
Hi Alex,
1) What do you think of Salcon? It seems to have broken above its downtrend forming a bottom.
2) For P&O, current price is undemanding at less than 1 P/BV. If a sale goes through, would it be a good assumption to say the P/BV at least can fetc 1.5 times, which should warrant RM1.8 stock price?
Hi x
The MACD & ADX for RCECAP are slowly flattening out & could be poised to curve up. Its support is at RM0.60-62 & resistance at RM0.70-75.
This stock attracts many BUY calls but lately it has been moving sideway. One of the possible reasons for this subdue behavior could be that a few finance companies are getting into the personal finance business, such as MBSB. This competition may negatively impact the company's business going forward.
Hi Ivan
I have some problem with TM's chart. My two charts from Quickcharts & Tradesignum differ. Relying on Tradesignum, I believe the recent high at RM3.55 could be the resistance.
Hi hkloon
My technical take:
1) Salcon is trapped between a medium-term downtrend line & a slightly longer term uptrend line. This creates a triangle for Salcon, with the upside resistance at RM0.71 & downside support at RM0.65. In addition, Salcon has a very strong horizontal line resistance at RM0.75.
2) Your point on P&O mirrors the research report from Kenanga where it feels that "P&O's M&A valuation could be about RM1.65".
Hi Alex,
can you comment on Msport?
thanks
Hi jac
Like the other PRC sportswear players, MSport had a sharp rally recently.
This sector is likely to be plagued by labor problem going forward. The days of handsome profit may be a thing of the past. So, one must make hay while the sun shines and find a good shelter when the rain comes. In line with this thought, we must treat MSport & its PRC brethren as trading stocks- good while the game is a pace- and not to get too enamored with their impressive historical results (which I don't put too much weight on).
MSport has good support at RM0.55 & then at RM0.50 & RM0.47. It is possible that it may take a short break & consolidate here before another push comes. Good luck.
Hi Mr.Alex ,
I'm newbie on stock market ,how do you think of FOCUSP(0157) right now ?Is it a Good time for us to buy in ? I didn't know how the resistance or support level going but i do care will it raise until RM 0.69 to RM 0.70 within this two month ?
Thanks
C.N
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