Looking at the 30-min intraday chart, it looks like Mudajaya may have formed a bottom and is poised to stage a recovery. We can see the formation of a higher 'low' & a higher 'high'.
Based on this, Mudajaya could be a trading BUY. However, this is a high rick trade & you are strongly advised to set tight protective stop if you choose to venture into this stock.
Chart: Mudajaya's 30-min chart as at August 9, 2010_11.43 am (Cource: Quickcharts)
4 comments:
Hi Alex,
Thanks for your effort for discussing our klse here, which i believe had helped many in choosing a counter to invest.
TAGB, one of my portfolio, which i had kept for long time, seems not performing well at all. would you mind to give some insight of this TAGB?
Thanks
Hi Tan,
TAGB makes about 1.5 sen per annum. Its NTA per share is about RM0.37. At the present price of RM0.385, it is trading at a PER of 25 times or at a Price to Book of 1 time. At this multiple, TAGB is deemed fully valued.
Chartwise, TAGB has formed a short-term uptrend line with support at RM0.38. A cheaper entry is TAGB-PA which is convertible to TAGB at the end of the third year of issuance (October 2012) on a 1-to-1 basis. TAGB-PA is trading at RM0.295, a full 9 sen cheaper than TAGB.
Hi Alex,
What do you forsee about the KLSE heading to for the second half of 2010? Is the FBM KLCI 30 stocks a good bet? Which counters would you go for long buys?
Thanks
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