Thursday, July 26, 2012

UOADev- next upleg about to begin

UOADev has just broken above the RM1.60 resistance. This could signal the start of its next upleg. Next resistance at RM1.95. Based on this, UOADev could be a trading BUY.

Chart: UOA's daily chart as at July 26, 2012_2.40pm (Source: Quickcharts)


Mat Cendana said...

Have to do something about my mentality. This is a counter that I have been following for months, THOUGHT about buying but never did. Now it has gone up from the 1.50 price that I *might* have bought and I feel it's "too high" already.

But as have often been the case, these counters would rise and rise, and I would be regretting:-) Axiata is one of the examples. The lesson here is - if a counter is rising, it doesn't really matter what price it currently is (and how low it previously was). because if it continues to go up, we will still make a profit. But that's me... always hesitant to buy when something has gone up a certain level.

JY said...

There are more than 101 reasons to buy this stock.

2012F P/E: 6.3x
2012F D/Y: 7.6%
Net cash
High ROE
Has achieved full year sales target
Triangle breakout
CIMB research just upgraded tp price to 2.18 from 1.84 yesterday

Mat Cendana said...

@JY - 101 reasons to buy and I was paralysed by ONE reason not to - "it has already gone up"... and missed the potential profit. How am I going to cure myself of this `disease'?:-)

I'm really unhappy with myself about this one - it was a `no lose' counter that was begging to be bought and kept. Among the reasons: it was well below the IPO... 10 sen dividend... recommended by analysts etc.

It's something that I should have bought when it was languishing well below 1.50. After all, there was the 10 sen dividend, and how much lower could it possibly go? It's obviously a counter which fundamentalists (and I claim to be one) should have bought to keep and wait. BUT I DIDN'T :-(

Well, no use crying over spilled milk and I'll try not to kick myself too hard about this missed opportunity. Lesson learned. At least it's a case of "not making money" through fear and inaction rather than of losing money through greed and caution to the wind. I'll just wait for the next opportunities, and these will come for sure when one is patient.

Sky said...

I have kept buying the stock around 1.50 and will buy some more. Alex is not Warren Buffet. He merely look at the chart and call break out for stocks that go up above the previous high. 8 out of 10 times, the stock would not continue with the upside. Some continue after a correction. Use your discretion to follow him. TQ