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Friday, April 06, 2012
Oldtown- uptrend to continue
Oldtown broke above its horizontal resistance at RM1.35 today. With this technical breakout, Oldtown will continue with its prior uptrend. Next target is RM1.50.
Chart: Oldtown's daily chart as at April 6, 2012_3.00pm (Source: Quickcharts)
Hi Alex, I would like your input on Mudajaya. It looks attractive with it hovering at 2.84-2.86 currently. But i dont have the info and numbers to do the valuation. Your input would be appreciated as always. Thx
Mudajaya (at RM2.82) is now trading at a PE of 5.9 times. That's fairly attractive since it could secure more jobs in line with the additional capacity build-up in the energy sector.
Chartwise, it has yet to break above its intermediate downtrend line, with resistance at RM3.00. It is in a medium-term uptrend line, with support at RM2.60. If you are keen to buy into this stock, try accumulating at RM2.60.
For Mudajya, if PE or 6x, then i think its good value. i think i will take your advice and allow it to hover around the 2.60-2.65 mark before calculation again. many thanks Alex.
Analyzing GOLD chart these days is pretty tricky. I remember calling a breakdown of the uptrend line in December 2011, only to see gold price charging back up in January 2012. When I posted on that recovery in February, it dropped again in March. Gold is determined to folls of any analysts who dared to step up to the plate & gave his take on its outlook.
The bottomline is gold price is likely to have formed a medium-term downtrend as we have sighted a lower 'low' & lower 'high'. With that, the technical outlook is bearish. This outlook may be revised if gold can go above USD1810-1820. In the current decline, it may find support at the psychological USD1600 level or the recent reaction low at USD1520. If gold were to break below the USD1520 level, the decline will accelerate.
However, the recent FED's decision to discontinue or curtail further Quantitative Easing activities could be positive for gold.
You can obtain the GOLD chart from stockcharts.com (type in "$GOLD") or bullionvault.com. Go to the two links below. Since gold must be priced in a particular currency (normally, USD), the price of gold will fluctuate around that currency. It is a good idea to look at both links to get a good feel for the underlying demand for gold.
7 comments:
Hi Alex, I would like your input on Mudajaya. It looks attractive with it hovering at 2.84-2.86 currently. But i dont have the info and numbers to do the valuation. Your input would be appreciated as always. Thx
Hi Political Crow's Nest
Mudajaya (at RM2.82) is now trading at a PE of 5.9 times. That's fairly attractive since it could secure more jobs in line with the additional capacity build-up in the energy sector.
Chartwise, it has yet to break above its intermediate downtrend line, with resistance at RM3.00. It is in a medium-term uptrend line, with support at RM2.60. If you are keen to buy into this stock, try accumulating at RM2.60.
Hi Alex,
I m not too sure whether you have received my earlier regarding the gold because the browser hang just now.
Allow me to re-type here. Please comment whether is a safe time to invest GOLD now? Where can I obtain the GOLD chart in Internet?
TQ
many thanks again Alex. Looks fairly good if the PE is only 6x
For Mudajya, if PE or 6x, then i think its good value. i think i will take your advice and allow it to hover around the 2.60-2.65 mark before calculation again. many thanks Alex.
Hi Andy Lau,
Analyzing GOLD chart these days is pretty tricky. I remember calling a breakdown of the uptrend line in December 2011, only to see gold price charging back up in January 2012. When I posted on that recovery in February, it dropped again in March. Gold is determined to folls of any analysts who dared to step up to the plate & gave his take on its outlook.
The bottomline is gold price is likely to have formed a medium-term downtrend as we have sighted a lower 'low' & lower 'high'. With that, the technical outlook is bearish. This outlook may be revised if gold can go above USD1810-1820. In the current decline, it may find support at the psychological USD1600 level or the recent reaction low at USD1520. If gold were to break below the USD1520 level, the decline will accelerate.
However, the recent FED's decision to discontinue or curtail further Quantitative Easing activities could be positive for gold.
You can obtain the GOLD chart from stockcharts.com (type in "$GOLD") or bullionvault.com. Go to the two links below. Since gold must be priced in a particular currency (normally, USD), the price of gold will fluctuate around that currency. It is a good idea to look at both links to get a good feel for the underlying demand for gold.
http://stockcharts.com/h-sc/ui
http://www.bullionvault.com/gold-price-chart.do
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