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Thursday, February 16, 2012
Cypark broke above the strong resistance of RM1.75
Cypark has just broken above its horizontal resistance at RM1.75. Its next resistance is at RM2.00. Based on technical consideration, Cypark could be a good trading BUY.
Chart: Cypark's weekly chart as at Feb 16, 2012_4.25pm (Source: Quickcharts)
CPO is in a long-term uptrend line. It has broken above its intermediate downtrend in December. Currently it is consolidating within an ascending triangle with upside resistance at RM3250.
I can't give you any specific stocks to ride the CPO rally. I have not looked at RSawit recently. It had a Rights Issue & a Bonus Issue. I may post on it after the next quarterly results.
I have not looked at the recent results for RSAWIT, except to note that its 9-mth net profit is RM57.6 million. If I annualized this earning & divide it with the outstanding shares of 1.309 billion; its EPS is 5.8 sen. As such, RSawit is trading at a PE of 20 times. That's high!
The stock is now rising in a near exponential fashion. Stocks that managed to do so can go sharply higher before a nasty correction set in. I would recommend those having this share to sell gradually even at the present RM1.20 level. I won't be surprised if it cross the RM1.50 mark.
8 comments:
Hi Alex,
Up more than 20 cents in one day. Shouldn't we wait for pull back 1st before entering?
Tx!
Dear Sifu,
One of your readers asked U about RSawit sometime ago. U said that 1.00 Rsawit is fully valued.
Today it went as high as 1.16 and closed at 1.15 with 240K lots.
What has caused it to fly so high and what would its resistance level be? TQ
Hi Alex,
Any comment on RSAWIT?
Thanks,
Hi Alex
Is CPO counter can continue buy in at this moment?
DO you think rsawit Pe is high at this moment?
Any CPO counter do you think is still cheap and with good management team?
Hi cheer
CPO is in a long-term uptrend line. It has broken above its intermediate downtrend in December. Currently it is consolidating within an ascending triangle with upside resistance at RM3250.
I can't give you any specific stocks to ride the CPO rally. I have not looked at RSawit recently. It had a Rights Issue & a Bonus Issue. I may post on it after the next quarterly results.
Hi luminaire10
I have not looked at the recent results for RSAWIT, except to note that its 9-mth net profit is RM57.6 million. If I annualized this earning & divide it with the outstanding shares of 1.309 billion; its EPS is 5.8 sen. As such, RSawit is trading at a PE of 20 times. That's high!
The stock is now rising in a near exponential fashion. Stocks that managed to do so can go sharply higher before a nasty correction set in. I would recommend those having this share to sell gradually even at the present RM1.20 level. I won't be surprised if it cross the RM1.50 mark.
Hi Ahmad Rozian
See my comment to reader luminaire10.
Hi Alex,
What do you think about puncak?
Do you cover this stock?
Any indication on your chart.
ty.
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