PBBank broke above its horizontal line at RM13.20 yesterday. The only other time that it has done so was on February 10 when it hit a high of RM13.30 & retreated back into the trading range of RM13.00 & 13.20. The MACD & ADX indicators are slowly swinging up- thus signaling the stock's potential upside breakout could be genuine. The other thing lacking is an increase in volume. If the stock stays above the RM13.30 level for the next few days, I believe the breakout is good to go.
Chart: PBBank's weekly chart as at July 1, 2011_10.00am (Source: Quickcharts)For those with a more aggressive appetite, you may try PBBank-CP & PBBank-CQ. I ruled out PBBank-CN & PBBank-JA as they are expiring this month. PBBank-CO has a premium of 6% and it is expiring in September. For a slightly high premium, PBBank-CP & PBBank-CQ would buy you another 7 months duration- pushing the expiriy date to April next year.
Table: PBBank's CWs & CBLC valuation & terms
2 comments:
Dear Alex,
What do you think of Maybulk? Its price had fallen quite a lot and wonder if it is time to accumulate.
Would aloso appreciate your opinion on KSL Holdings. I was told that they have a piece of land, strategically located in Iskandar, which is eyed by Temasek Holdings and UEM Land.
Thank you.
Hi Alex,
Can you comment on HIRO?Currently there has proposed bonus issue, is it a good time to buy some?
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