From the chart below, we can see that the stock has begun to exhibit some signs of weakness.All three indicators are pointing downward. A break below the 10-week EMA line at RM10.80 could bring forth a more meaningful consolidation.
Based on the sharp rally over the past one year and signs of technical weakness, I believe it is good time to take some profit on AEONCr.
Chart: AEONcr's weekly chart as at July 31, 2012 (Source: Quickcharts)
3 comments:
Selling AEONCR is a tough decision to make. I have holding it since RM 2.6. Everytime I thought about selling it, the 6-8% dividen yield and the aggressive EPS growth tempted me not to do so !
Sometimes it is better not to waste time on silly comments by silly readers.
Hi Big Sea
I agree. It was also tough to make a call to take profit on AEONCR.
When I first started blogging, I will write a post and publish it the next day. I would worry about getting it wrong and readers losing money on account of my call.
That feeling is still with me even today. It is difficult to call a buy on a boring stock like Shang, just as it is difficult to call a sell on a performer in its day, like IOI, TChong, KSeng or Jerneh. Of course, along the way, you have a few misses here & there but as long as there are more hits than misses, I'll still be in the game.
Check out the above sell call below:
http://nexttrade.blogspot.com/2008/07/iois-bearish-reversal-sighted.html
http://nexttrade.blogspot.com/2010/12/tchong-time-for-some-profit-taking.html
http://nexttrade.blogspot.com/2010/05/time-to-take-profit-part-2.html
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