Sunrise is poised to test its strong horizontal resistance at RM2.40. A break above this level could signal the beginning of an upleg for this stock. The next resistance levels are at RM2.60-2.70 & then at RM3.00-3.10.
Chart: Sunrise's weekly chart as at Novemner 1, 2010_11.00am (Source: Quickcharts)
This is an anticipatory trading BUY call. Based on technical analysis, Sunrise would be a good trading BUY if it can break above the RM2.40 resistance.
7 comments:
Hi Alex,
Any comment on the Petronas Chemical IPO ?
Hi Cheer,
Petronas Chemical ('PetChem')'s IPO price at RM5.05 (for retail portion) is pricing the stock at 15.6 times its FY2009 EPS of 32.43 sen. One can argue that FY2008 & FY2009 were cyclically not good years for PetChem but to price it at 15.6 times leaves very little room for upside surprises. I think this IPO is fully valued.
Hi Mr lulu , still remember I asked u whether to cut loss on sunrise @ 2.13 last month ? u scared to answer my question , based on ta , u should cut it below 2.15 , did u ?
let read what my sifu sam wrote about u @ www>samgang>blogspot>com
From Samgang private blog
Published on: Sep 29, 2010 @ 19:06
Latest update:_
Bot in 30lots of Sunrise @ avg cost of 2.155 today , y sunrise ? actually I wanna 2 buy in this stock last week , cos I saw there r rotational play on property counters in KLSE last week. I couldnt get any of it cos she has shot up too fast 2 as high as 2.45 last Friday , finally I got my chance 2 buy in below 2.18 today ^_-..y Sunrise ?
In Property , sunrise is one of d taiko among all, prime location n land they hv in mount kiara , let check its earning , latest earning stood @ 27cts which giving u PE of 8 ! one of d cheapest property counter in property sector ^_- NTA stood @ 2.21 with fantastic proven track earning records , further more u can see its daily vol is increasing , with all these goodies , that make me swap all my sunway @1.94 2 sunrise today, 4low or not ? u decide ^_-
B4 I make fun on ta losers again, let read what d taiko tak ada akal sifu said about sunrise last week :-
***
Posted by Lu Lu at 9/24/2010 04:17:00 PM
Sunrise may have a bullish breakout
One of my favorite property, Sunrise is again making another attempt to break above its downtrend line. This time, the breakout is accompanied by big volume. The increased volume means that it will have better chance of launching into an uptrend. Its immediate resistance is at the horizontal line of RM2.30 & then at RM2.60.
Chart 1: Sunrise's weekly chart as at Sept 23, 2010_arithmetic scale (Source: Quickcharts)
An alternative view of the Sunrise's price movement is given below by the weekly chart plotted on logarithmic scale. We can see that the stock has yet to break above its downtrend line yesterday. With the gain of 10 sen (price was at RM2.31 as at 4.38pm), Sunrise has successfully broken above the downtrend line, based on this log scale chart.
Chart 2: Sunrise's weekly chart as at Sept 23, 2010_log scale (Source:Tradesignum)
Based on the bullish breakout, Sunrise could be a good trading BUY.
***
So how now lu lu ? sunrise break below 2.31 liaoo..it is now 2.18 , macam mana ? sell n cut loss ? if yes..then what if she come back to 2.31 again ? buy back n long ? ha ha... I wanna 2 hear from u what 2 do now ? cut loss or hold ? if hold..then what about d theory of cut loss ? if cut loss..then what if sunrise shot back >2.31 ? buy back ? o o opssss.... really an eye open !^_-
FYI, Mr lulu, u looks like great sifu when u adopted FA on yr stock pick but when u use tak ada akal method on yr stock calls, u looks exactly like yr surname "LULU" ^_-
Wanna 2 know my view on sunrise ? I hv posted my view in my private blog ^_- wanna 2 know ?
*************************************
So mr lulu , based on ta, u shld hv cut loss on sunrise @ 2.15 ( low after yr call was 2.11 ) , so how now ? buy back again ?
This is what tak ada akal method teach u , cut loss cut loss 2 minimise yr losses ? minimise losses or minimise profit ? if one think that ta can tell u when 2 cut loss n when 2 keep yr profit run ? ha ha then u should take alook at what ta master lulu called 2 cut loss on sunrise as above ^_-
Mikeloser, chinyk , ezi, maxforce, darlie signh n all ta losers out there , jgn marah yah ?
Hi Mr lulu , still remember I asked u whether to cut loss on sunrise @ 2.13 last month ? u scared to answer my question , based on ta , u should cut it below 2.15 , did u ?
let read what my sifu sam wrote about u @ www>samgang>blogspot>com
From Samgang private blog
Published on: Sep 29, 2010 @ 19:06
Latest update:_
Bot in 30lots of Sunrise @ avg cost of 2.155 today , y sunrise ? actually I wanna 2 buy in this stock last week , cos I saw there r rotational play on property counters in KLSE last week. I couldnt get any of it cos she has shot up too fast 2 as high as 2.45 last Friday , finally I got my chance 2 buy in below 2.18 today ^_-..y Sunrise ?
In Property , sunrise is one of d taiko among all, prime location n land they hv in mount kiara , let check its earning , latest earning stood @ 27cts which giving u PE of 8 ! one of d cheapest property counter in property sector ^_- NTA stood @ 2.21 with fantastic proven track earning records , further more u can see its daily vol is increasing , with all these goodies , that make me swap all my sunway @1.94 2 sunrise today, 4low or not ? u decide ^_-
B4 I make fun on ta losers again, let read what d taiko tak ada akal sifu said about sunrise last week :-
***
Posted by Lu Lu at 9/24/2010 04:17:00 PM
Sunrise may have a bullish breakout
One of my favorite property, Sunrise is again making another attempt to break above its downtrend line. This time, the breakout is accompanied by big volume. The increased volume means that it will have better chance of launching into an uptrend. Its immediate resistance is at the horizontal line of RM2.30 & then at RM2.60.
Chart 1: Sunrise's weekly chart as at Sept 23, 2010_arithmetic scale (Source: Quickcharts)
An alternative view of the Sunrise's price movement is given below by the weekly chart plotted on logarithmic scale. We can see that the stock has yet to break above its downtrend line yesterday. With the gain of 10 sen (price was at RM2.31 as at 4.38pm), Sunrise has successfully broken above the downtrend line, based on this log scale chart.
Chart 2: Sunrise's weekly chart as at Sept 23, 2010_log scale (Source:Tradesignum)
Based on the bullish breakout, Sunrise could be a good trading BUY.
***
So how now lu lu ? sunrise break below 2.31 liaoo..it is now 2.18 , macam mana ? sell n cut loss ? if yes..then what if she come back to 2.31 again ? buy back n long ? ha ha... I wanna 2 hear from u what 2 do now ? cut loss or hold ? if hold..then what about d theory of cut loss ? if cut loss..then what if sunrise shot back >2.31 ? buy back ? o o opssss.... really an eye open !^_-
FYI, Mr lulu, u looks like great sifu when u adopted FA on yr stock pick but when u use tak ada akal method on yr stock calls, u looks exactly like yr surname "LULU" ^_-
Wanna 2 know my view on sunrise ? I hv posted my view in my private blog ^_- wanna 2 know ?
*************************************
So mr lulu , based on ta, u shld hv cut loss on sunrise @ 2.15 ( low after yr call was 2.11 ) , so how now ? buy back again ?
This is what tak ada akal method teach u , cut loss cut loss 2 minimise yr losses ? minimise losses or minimise profit ? if one think that ta can tell u when 2 cut loss n when 2 keep yr profit run ? ha ha then u should take alook at what ta master lulu called 2 cut loss on sunrise as above ^_-
Mikeloser, chinyk , ezi, maxforce, darlie signh n all ta losers out there , jgn marah yah ?
Hello neno.
You should just keep you mouth shut and do your homework.
There is no so-called master in the world of trading/investing. You should do your own risk assessment & stop blaming others.
TA, FA, whatever it is, relying on others will not make you a better trader, nor showing off will either,
Alex is just blogging and speaking his mind on what he likes, it is not an open invitation for 'tip begging' or 'advise asking' ... a good trader do not 'force' for anything ... keep up the good work Alex !!
Hi Kimming Chong
Thank you for sharing your thought.
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