Monday, March 04, 2013

MBSB- uptrend to continue

MBSB broke above its horizontal resistance at RM2.48 today. With this upside breakout, the stock may continue its uptrend. Its next target could be RM2.75-2.80.

As such, MBSB could be a good trading BUY.

Chart: MBSB's daily chart as at March 4, 2013_12.15pm (Source: quickcharts)

For more on MBSB, go here.

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, MBSB.


lai said...

hi alex,

can u give some comment on TAS offshore? it seems like going nowhere after hitting its 52 week high sometimes ago?


Alex Lu said...

Hi Tai,

TAS Offshore has been a disappointing trade. Its financial performance was quite satisfactory, with net profit of RM5 million on revenue of RM48 million for 1H2013 (see link below). That translates to a full-year EPS of 5.8 sen. At present price of 36 sen, it is trading at a PE of 6.2 times.

Chartwise, it is likely to drift to its support at 33-35 sen before we can expect a decent rebound.