Thursday, June 14, 2012

Penergy may have a bullish breakout

Penergy broke above its strong horizontal resistance at RM1.25 early this morning. The stock had earlier broken above its intermediate downtrend line at RM1.15 in late April. Its next resistance would be the horizontal line at RM1.45.

Chart: Penergy's daily chart as at June 14, 2012_9.30am (Source: Quickcharts)

For QE31/3/2012, Penergy reported a net profit of RM7.2 million on a revenue of RM131 million. Based on annualized EPS of 13.4 sen & present price of RM1.34, Penergy is trading at a PE of 10 times.

Based on technical consideration, Penergy could be a good trading BUY. You may buy when the share price eased back to the RM1.25-1.30 level.


Investor said...

//off topic
Hey Alex, heard your interview on BFM89.9 yesterday. Great job there! Do u interview for BFM every now and then?

Andy Lau said...

Hi Alex

What is your advise buy or don't buy zhulian at this period of eurozone crisis ?

Andy Lau said...

Hi alex,

How u c Perdana ?


Alex Lu said...

Hi Andy Lau

Perdana broke above its downtrend line at RM0.54 as well as the horizontal line at RM0.55. It is now testing horizontal line at RM0.65. I think it could be a trading BUY on pullback to RM0.55-0.60.

Zhulian is still trying to break above the RM2.00 mark. If it can do so, it may rally. Its PE is quite attractive at 8 times.

Alex Lu said...

Hi Investor

Yes, I had been interviewed by BFM89.9 on its Market Watch program on a few occasions. It is a good experience but I am worried that I might slip up & say something bad. So far, so good. Thanks to my Toastmasters training.