Thursday, June 20, 2013

YeeLee & Spritzr- rising in tandem?

Yesterday, Spritzr broke above the RM1.50-1.53 resistance. It touched an intra-day high of RM1.77 today- despite the bad market following the sharp drop in DJIA overnight. We may see further upside to Spritzr after a bit of correction.


Chart 1: Spritzr's weekly chart as at June 20, 2013_12.30pm (Source: Quickcharts)

My interest is on YeeLee, which holds a substantial 38%-stake in Spritzr. This stock seems to move in tandem with Spritzr. The rally in Spritzr prompted the price of YeeLee to test its recent high of RM1.26 this morning before succumbing to profit-taking in the afternoon. I believe there is a good chance that YeeLee would re-test this level in the days ahead. An upside breakout of the RM1.26 mark could send the stock to my target of RM1.70.

Look out for YeeLee.


Chart 2: YeeLee's weekly chart as at June 20, 2013_12.30pm (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, YeeLee & Spritzr.

4 comments:

lai said...

Hi Alex,

Excellent info you have. Keep it up!

Btw, Wht's the appropriate time to re-enter Tebrau?

Much thanks!

vincent chua said...

Hi Alex,
One of Hapseng major shareholder (Hapseng Insurance) is continuing disposing Hapseng shares. In the same time Hapseng is buying back its own shares. Any possible explanations for such phenomena?

Thanks!

Alex Lu said...

Hi lai

Tebrau is testing its medium-term uptrend line support at RM1.30-1.32. A break of this support would be negative for the stock.

Alex Lu said...

Hi vincent chua

I am not sure what's in the mind of Hapseng's shareholders & management. Chartwise, Hapseng is testing its medium-term uptrend line at RM1.90. It is also a strong horizontal support. Is this breaks, it may drop to the next support (both horizontal & intermediate uptrend line) at RM1.75-1.80.