Unico may have bullish breakout

Unico has just broken above its recent high of RM1.25. With this breakout, the stock may continue with its prior uptrend. The possible target for the current breakout is RM1.35.


Chart: Unico's daily chart as at March 22, 2012_12.30pm (Source: quickcharts)

Unico is a plantation stock. For 9-month ended 31/12/2011, Unico reported a net profit of RM59.8 million on a revenue of RM231 million. Its annualized EPS for FY2012 is about 9.21 sen. Based on the present price of RM1.28, Unico is trading at a PE of 14 times. At this PE, Unico is deemed fully valued.

Based on the technical breakout, Unico could be a good trading BUY.