This is a personal weblog, reflecting my personal views and not the views of anyone or any organization, which I may be affiliated to. All information provided here, including recommendations (if any), should be treated for informational purposes only. The author should not be held liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein.
Friday, August 12, 2011
Petdag recorded a q-o-q decline in net profit
Results Update
Petdag's net profit declined by 8.6% q-o-q but rose 4.5% y-o-y to RM208.7 million while turnover increased by 18% q-o-q or 38% y-o-y to RM7.540 billion. The q-o-q decline in net profit was attributable to lower gross profit margin.
Table: Petdag's last 8 quarterly results
Chart 1: Petdag's last 13 quarterly results
Technical Outlook
The stock is still in an uptrend, albeit some profit-taking over the past few weeks. However, you may notice the bearish divergence in both the MACD and RSI indicators, which could be signaling a top in the stock.
Chart 2: Petdag's weekly chart as at August 11, 2011 (Source: Quickcharts)
Conclusion
Based on the weakening in the technical indicators and the q-o-q decline in bottom-line, my earlier recommendation to sell into strength remained.
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