Gtronic- up on favorable news report

There is a favorable report in the Star on Gtronic where RHB Research valued the stock at RM2.11 (here). Chartwise, we can see that Gtronic broke above its recent high at about RM1.55. With this breakout, the stock may test the psychological RM2.00 mark. It is interesting to note that the last 2 breakout saw the stock gaining 25%. If the same percentage gain can be achieved, the stock could go as high as RM1.95. At the time of writing, Gtronic is trading at RM1.80; thus giving a small upside to the potential target of RM1.95 or RM2.00. However, the stock could be a good buy on weakness.

For mpre on Gtronic, go to my earlier post (here).


Chart: Gtronic's daily chart as at Jan 11, 2013_9.30am (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, Gtronic.