Tuesday, May 07, 2013

IJM- next upleg may have started

IJM broke above its downtrend line again as well as its horizontal resistance at RM5.60 today. See Chart 1. The company had issued a warrant, IJM-WC which has an exercise price of RM4.00 and expiry date of Oct 24, 2014 (with tenor of535 days to expiry). This warramt is presently trading at a Discount of 3.5%. This coupled with the mildly bullish technical breakout observed in the warrant price chart (see Chart 2), means that the warrant is a good bet to ride on the upside of IJM.


Chart 1: IJM's weekly chart as at May 7, 2013_4.15pm (Source: quickcharts)


Chart 1: IJM-WC's weekly chart as at May 7, 2013_4.15pm (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, IJM & IJM-WC.

2 comments:

Billy Teo said...

Hi Alex,

Yeelee seems to be catching up with spritzer.

Any view on this stock?

Rgds

Alex Lu said...

Hi Billy Teo

Yeelee will finally have its days in the limelight. Its immediate resistance is at RM1.10 & thereafter the recent high at RM1.25.