Friday, January 27, 2012

Puncak- the bottoming phase may be over?

Puncak declined from a high of RM3.00 in September 2010 to a recent low of RM0.96. It then formed a base over the past 6 months, at RM0.96-1.33. If it can break above the RM1.33, the bottoming phase may have completed. It may begin its recovery stage. Its immediate resistance would be the intermediate downtrend line at RM1.55.

The fair value for this stock varies significantly. MIDF has a target price of RM1.32 as per its report in November 2011 (here) while OSK valued it at RM3.65 in May 2011 (here). I believe that the company is worth more than RM2.00 and as such, the stock is an attractive stock to consider for a recovery play.

If Puncak can break above the RM1.33 level, it could be a trading BUY.

Chart: Puncak's daily chart as at Jan 27, 2012_12.00pm (Source: Quickcharts)


luckystock2 said...

Hi Alex,
Is Cypark a similar case with Puncak?

Ahmad Rozian said...

Dear Alex,

There are conflicting reports by various research house about Axiata.
One says it is very rosy, the other said otherwise.

Now that it has drifted to 4.7X, what is your opinion wrt short/medium term?

AlexP said...

Hi Alex, what is your opinion on Marco and it's warrant Marco-WA? The company profits have been increasing steadily. Thanks.

flow with the Tao said...

Thanks for your post on Puncak. Small player make small ang pow.

jeremy tan said...

thanks alex, bought today at RM1.33 before it shot all the way up. Cheers! Sold on the same day as well

VallWin said...

Thanks Alex for sharing Puncak Niaga & GENM. Very good call. Cheers!