Tuesday, August 07, 2012

IHH broke to new high of huge volume!

The volume leader for today is IHH. This stock broke above its recent high of RM2.40 today. With the huge volume traded and the new high, the stock could see further upside in the days ahead.

Based on this, IHH could be a trading BUY. While IHH is undoubtedly a solid company, its short history would warrant any trade a risky trade. As such, do exercise careful discretion.

Chart: IHH's 15-min chart as at August 7, 2012_4.45pm (Source: Quickcharts)


Kok-Siang said...

should EOD data be adjusted after dividend, split, reverse-split, special dividend and capital distribution.
As I know, split & reverse split should be adjusted. How about others?
If the data is not adjusted, it will show a big gap due to large dividend. Does it reflect or impact on technical point of view?

Unknown said...

Hi Alex,

Looks like FBMKLCI broke below its short term uptrend line yesterday. Is there anything to be concerned about?

Mat Cendana said...

One alternative is through its warrants. The -CM, which sees the most volume, especially. This is a cheaper entrance point than the mother share. There's the risk, of course. But if one can get it at 0.085 or so, the downside looks minimal.

Unknown said...

Furthermore, it seems like even though KLCI was green today, the majority of the shares were red. DJI green but most of the Malaysian bursa was red? Something doesn't seem right here.

Mat Cendana said...

It appears that BSKL at present isn't on the same alignment as most other markets. Whatever happens elsewhere isn't having much influence on us. This has been going on since a number of sessions already. Including today - most of the Asian markets are up while BSKL is so-so.

There was that post which Alex wrote a couple of weeks ago or so. I feel we are due for a correction. There isn't enough momentum right now.

Alex Lu said...

Hi Kok-Siang

Everybody would agree that EOD data should be adjusted for capital exercise, such as bonus & right issue. Some would also want the data to be adjusted for special dividend that has a distorting effect. Once you adjust for dividend, you can't make a distinction between big dividend & small dividend.

The Tradesignum charts does not adjust for dividend while the Quickcharts charts are adjusted for dividend.

Traders tend 'remember' the prices unadjusted for dividend.

Alex Lu said...

Hi Kon Chy

FBMKLCI is trading below its short term uptrend line. This means that there is an increased probability that the uptrend may be due for a reversal.

Despite the elevated level of the index, the market is fairly weak. Market breadth is poor and there are many trading days where losers outnumbered gainers. The gainers are the blue chips and MNCs in the consumer sector . When these 'safe haven' stocks finally reverse course, the warm feeling in the market will evaporate. The true face will appear...

Mat Cendana said...

IHH reported a good 2Q

After the big volume and this post, it had then gone a bit lower and has been stuck at the 3.10-15 range for the past week or so. But this latest quarter report should give analysts newer figures to work on. Investors too might have renewed interest in IHH. I feel the counter is rather cheap at present and there appears some room for an upswing in the near future.