Tuesday, December 28, 2010

Hapseng- a big miss!


Chart: Hapseng's monthly chart as at Dec 1, 2010 (Source: Tradesignum)

A picture that paints a thousand WORDS! How could we have missed it?!

13 comments:

leslieroycarter said...

Hi Alex:

There are more than a thousand counters and if one were to miss a good single counter was not a big deal. Anyway , thanks for the good deeds done and looking forward for a better Rabbit year to come .

leslieroycarter said...

Hi Alex :
May u comment on Tejari . What do u rate this counter? Is it worth to trade in the short , medium or long term? It seemed that this counter is overbought right now.

Ethan Lee said...

Hi Alex,

How you think about Hevea? I saw its financial result is quite good, EPS up to 3rd quarter of 2010 is 19.55 sen and NTAB is RM2.02. Today share price is RM0.805, is it good trading buy?

Please comment.

Thank you.

Chin Hoe said...

Hi Alex,

Any reason Hapseng spike suddenly?

Regards,
Lin

Unknown said...

Dali made a wonder call on Hap Seng a week ago...with a TP close to RM8...

AlexP said...

Hi Alex,

Welcome back and thank you for the blog. I really apreciate all your insights and patience in replying questions from your readers. For me this is definitely the best local finance blog. Cheers!

Remnant 888 said...

At this moment in time, based on TA, at what price would you call a sell on Hap Seng...? R1, R2, R3...? Cheers.!

Mike Forex Cable said...

why u miss it?..well u have 100s o ctr to monitor...

Alex Lu said...

Hi Remnant 613

I won't venture a guess where it would end up. It could be one or the other. To get in at this point entailed more risk than reward. I would give it a miss. I put this post up because it was such a beautiful breakout. To miss it was a heartache.

Alex Lu said...

Hi Ethan Lee

I have commented a while ago that Hevea was testing its strong horizontal line resistance at RM0.75. Now, it seem s like the stock had a breakout. Assuming a 1-time extension, the target of this move is RM0.95.

You have highlighted about Hevea's EPS of 19.55 sen for 9-month ended 30/9/2010. This means that the stock is currently trading at a PE of only 3 times. Dirt cheap! However, before you load up too much of this stock, you should be careful about the next round of capacity expansion in the MDF & particle board sectors. I understand that the Thai players are expanding madly & soon the prices of their products may be depressed again. So, trade the stock if you wish but set your target to get out.

Alex Lu said...

Hi leslieroycarter

I am not familiar with Tejari. Its price movement is extremely erratic. It looks & feels like a syndicate stock. Its support is at RM0.14-0.15 while its resistance is at RM0.18 & RM0.20.

Remnant 888 said...

I'm actually holding positions below RM3.00 and waiting to exit in stages, beyond RM7..

tklaw said...

Hi Alex,

What's your comments on the AEONCR's technical chart? This counter seems to be worthwhile for investing from the fundamental point of view.

Thank you.