In the past few days, Scomies [in full, Scomi Energy Services Bhd (formerly known as Scomi Marine Bhd)] has been rallying. It broke above its horizontal resistance at RM0.42 and it soared nearly 80% to close at RM0.755 this morning.
Chart 1: Scomies's weekly chart as at June 6, 2013_12.30pm (Source: Quickcharts)
Chart 2: Scomien's weekly chart as at June 6, 2013_12.30pm (Source: Quickcharts)
Finally... what about the parent company, Scomi? IJM has bought into this company with the hope of getting into the Oil & Gas business and possibly the transport engineering business. If Scomi can surpass the recent high at RM0.44, we may see a decent rally to RM0.56 & then to RM0.71.
Chart 3: Scomi's weekly chart as at June 6, 2013_12.30pm (Source: Quickcharts)
Between these three stocks, my preference is for Scomi.
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, Scomi, Scomies & Scomien.