Chart 1: Kianjoo's weekly chart as at August 12, 2010_10.20am (Source: Quickcharts)
Interestingly, Canone has also broken above its strong horizontal resistance at RM1.12 yesterday. Canone could potentially revisit its April 2006 high of RM1.60-62. Is there a connection between these 2 stocks? You may recall that Can-One, through its wholly-owned subsidiary Can-One International Sdn Bhd, entered into a share sale agreement with Kian Joo Holdings to buy a 32.9% stake in KJCF for RM241.12mil or RM1.65 per share in April 2009 (go here). Subsequently, Kianjoo's managing director Datuk See Teow Chuan and 13 others filed a legal suit against Canone, claiming that the transaction was ‘’illegal’’. Is the Court about to rule in favor of Canone?
Chart 2: Canone's weekly chart as at August 12, 2010_10.20am (Source: Quickcharts)
Based on technical consideration only, Kianjoo & Canone could be good trading BUYs.
4 comments:
Hi Alex,
Is BJTOTO, HEKTAR and AMWAY suitable for good dividend and medium term investment? Any other good stock for this purpose?
Hi Alex,
Keep up the good work mate! Seriously
cheers
Hi Hirofumi,
Thank you for a very nice compliment.
Hi aemy,
I'm sorry I can't be much help here. I don't tabulate high dividend yielding stocks. It involved too much work & the end result is something that you cannot be too sure of. For example, how do you deal with special dividend? What about dividend-in-specie? How do value dividend-in-specie? Do you use only the latest dividend amount for computing the dividend yield or should you use an average of the past 3 or 5 years? Where do you get the data?
The best method I can think of is to refer to the Star or NST newspaper & pick out those stocks that have high dividend yield. Then, you go through their dividend payment record one by one to determine which stocks have been paying out high dividend consistently. Exclude the one-off cases & you would have a short list of maybe 8-10 stocks to invest in.
Good luck.
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