Monday, June 25, 2012

Presbhd has a bullish breakout

In May, I had posted about Presbhd, a smallcap with potential (here). The stock is in an uptrend line, withe support at RM0.95 & strong horizontal resistance at RM1.05. This morning, Presbhd broke above that resistance. It is currently trading at RM1.14. Its potential target is RM1.30.

Chart: Presbhd's weekly chart as at June 25, 2012_9.15am (Source: Quickcharts)

Based on the bullish breakout, Presbhd is a trading BUY.


luckystock2 said...

Hi Alex,
Is this counter only a good trading buy? How about for medium to long term investmet? The company is quite generous in giving dividends and their prospect seems bright with expansion in education business.

Alex Lu said...

Hi luckystock2

It could be a medium to long term investment. I have no time to look deep into the company & study its accounts, etc. I would call it a trading BUY based on technical breakout. If it works out well, great. If not, you need to exit- maybe at a small loss.