Chart: P&O's weekly chart as at Nov 22, 2010_12.00pm (Source: Quickcharts)
Based on the above, P&O is rated a trading SELL.
Monday, November 22, 2010
P&O broke its strong support at RM1.00 level.
P&O has announced on November 12 that it has discontinued its preliminary negotiation to disposal of its equity stake in Pacific & Orient Insurance Bhd (here). Unless there is a fresh suitor or buyer waiting to step in, the premium imputed into this stock will slowly & surely dissipate. From the chart, we can see that the stock has broken below the gap, which is normally a strong support. This support-turned-resistance would be a good level to dispose off your position in this stock. However, I doubt the stock will rebound back to test this level for a while. Meanwhile, we can expect support from the horizontal lines at RM0.85, RM0.75 & possibly RM0.65.
Chart: P&O's weekly chart as at Nov 22, 2010_12.00pm (Source: Quickcharts)
Based on the above, P&O is rated a trading SELL.
Chart: P&O's weekly chart as at Nov 22, 2010_12.00pm (Source: Quickcharts)
Based on the above, P&O is rated a trading SELL.
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18 comments:
Hi Alex,
Any comment on the HSPLANT, what is the TP? Thanks for in advance.
Hi Alex,
any comment on careplus IPO??
hi bro alex. please comment on MELEWAR and MYCRON. thx alots
happy to see you again :)
mr. alex,i had read many articles about kfima. what do you think about it.some said it just like hidden gem
hi alex,
can you give comments on HDBS 6688?
thanks
Hi Clc,
HDBS looks like a breakout above the horizontal resistance of RM2.30. Its next resistance is at RM2.35-2.40 and then at RM2.75.
Hi Kiwi,
Kfima is a good stock, with fair diversified businesses. Chartwise, it is in an uptrend line with support at RM1.20-1.30.
Hi wong
I will give you the technical take on MELEWAR and MYCRON. Both stocks are in a downtrend. The donwtrend line resistance for Melewar is RM0.75. Its subsequent resistance is at RM1.00. Mycron's downtrend line resistance is at RM0.60 and its next resistance is at RM0.65-0.68 and the at RM0.75.
welcome back my friend, good to have you back. it has been rather boring last week without your daily updates :)
Hi Jackie,
Glad to be back.
Hi Alex,
As a whole, Do you view GPacket 3Q result as an improvement? Her holding strenght is rather solid.
Thanks and glad to see you back
AL
Hi Alex,
As a whole, do you view GPacket 3Q result as an improvement?
Her holding strenght appeared solid for many months
AL
Hi Alex
What is your comments on Suncity? Thanks
Hi Alex
Howw is your holiday ?
Mind to comment a bit of Tiger business nature and how do you think this stock ?
Hi Bluesky
GPacket 3Q results is quite encouraging. Turnover increased by 12% q-o-q or 60% y-o-y to RM100.9 million. Pre-tax losses declined by 15% q-o-q or 7% y-o-y to RM30.1 million.
Chartwise, GPacket may find support at the short-term uptrend line at RM0.80. That could be a good entry level to this stock. However, it is still too early to think about an upleg for the stock with the huge losses recorded every quarter. With better financial performance, GPacket may break above its long-term downtrend line at RM1.00. Only then, could we be looking at a sustainable uptrend for this stock.
Hi cheer
I don't know much about Tiger, except that it was formerly known as Minply. It's a marginal company, making small profit or losses over the past few years.
Chartwise, it is in a downtrend with resistance at RM0.22. Above that, it has a very strong horizontal resistance at RM0.27-0.30.
Hi Alex,
Do you have any comment for Annjoo,
what is the support level?When the company will announced it 3Q financial report?
Thanks.
Hi cheeseong
Annjoo' 3Q2010 results was very disappointing. Its net profit dropped 85% q-o-q or 77% y-o-y to RM10.4 mil while its turnover dropped 44% q-o-q or 13% y-o-y to RM333 mil. This is attributable to lower export & escalating production cost.
Chartwise, Annjoo is likely to slide back to its uptrend line support of RM2.70. Thereafter, Annjoo may fund support at the horizontal line of RM2.60.
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