Wednesday, January 02, 2013

Notion broke its strong horizontal support at RM0.76

Notion broke its 3rd fan uptrend line, S-S3 in mid-December. For the past 2 weeks, it was hanging around the RM0.90 mark. The last 3 days, it started pulling away from the RM0.90 mark. Today, it dropped sharply and broke the horizontal line at RM0.76. The stock's next support levels are at RM0.50 & RM0.40.

Based on this bearish technical outlook, the earlier positive/constructive outlook is revised to negative outlook. It deserves a lower rating of either a SELL or just a HOLD.

Chart: Notion's weekly chart as at Jan 2, 2013 (Source: Quickcharts)

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, Notion.

1 comment:

Anonymous said...

Hi Alex

Can you comment on YTL Power? Another possible aside privatization is YTL Power may divest off its local power plant to 1MBD.

If YTL Power indeed divest off its local power plant to 1MBD, it will get rid off political risk and stock will be due for re-rating. The amount of cash proceed from divestment then can be use either acquire oversea assets or opt partially to reward shareholder. I think the re-rating could send YTL Power stock to 1.80-2.00, translating to WB potential TP 59sen-79sen. What do you think?