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Thursday, December 27, 2012

KSeng- poised for an upside breakout

KSeng tested its strong horizontal resistance at RM4.40-4.42 this morning. If it can break above this resistance, KSeng may continue its prior uptrend. If it can achieve the breakout, KSeng may be a trading BUY.


Chart: KSeng's weekly chart as at Dec 27, 2012_12.00pm (Source: Quickcharts)

Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, KSeng.

4 comments:

leslieroycarter said...

The long wait finally comes .... be it real or not ? Time will see...

leslieroycarter said...

The Breakout is finally out

leslieroycarter said...

Hi Alex:
with the recent rally for kseng, do you see any prospects of this stock touching RM6.00 and above given the chances of tax refund under Taxation Act 108 by the end of this year ? Or a bigger dividend pay out when the co more than able to do so after parting with parkway shares and other equities?

Alex Lu said...

Hi leslieroycarter

I noticed the stock broke into new high 3 days ago. For a stock to do that in a bad market is a strong sign that something positive is coming. Today, it announced a good set of result for QE30/6/2013. Its 1H2013 EPS is 19 sen. Full year EPS would be 38 sen and that would translate to a PE of 14 times.

With the breakout, I think the RM6.00 mark is the next target, which is quite achievable (provided the stock market does not enter a bear market).

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1393293