Yesterday, Hapseng-wa broke above its horizontal resistance of RM0.54. Today, it gained 7.5 sen from RM0.555 to RM0.63. This put Hapseng-wa at an all-time high. See Chart 1.
Chart 1: Hapseng-Wa's daily chart as at September 18, 2013 (Source: Quickcharts)
Hapseng-wa's strong move came after the share had risen steadily over the past 4-5 months. That steady rise came after the sahre broke above the horizontal ressitance at RM1.65 in May (see Chart 2). In August, Hapseng broke above its all-time high of RM2.00 (see Chart 3).
Chart 2: Hapseng's daily chart as at September 18, 2013 (Source: Quickcharts)
Chart 3: Hapseng's weekly chart as at September 18, 2013 (Source: Quickcharts)
The strong move in Hapseng-wa could signal an acceleration in the rise for Hapseng. Something significant is coming for the stock.
Based on the above, Hapseng could be a good trading BUY.
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, Hapseng.
6 comments:
Hi Alex
Aside Hapseng and Hapseng-WA, another similar stock alike are YTLP and YTLP-WB. Both also share buyback aggressively, indirectly pushing up their respective warrant. However, YTLP and WB seem getting widen gap, trading at discount now, offering much better upside. What say you?
Hi Alex,
What is your opinion about LONBISC? Thank you
Hi hng
YTLpowr and the warrant have bottomed out. If YTLpowr can break above RM1.85, it may be the start of the uptrend. However, I believe it may pullback to RM1.65-1.70 before attempting a breakout.
Hi Chun Mun
LONBISC may have bottomed at RM0.65. It is fairly attractive with PE of 7 times and PB of 0.3 time. The poor share price reflects market perception that this company is not well-managed.
Will it be the next Yeelee? we will have to wait & see.
If hap seng were to privatised, what will be the value? Tq
Hi Sharing
What is the value of hap seng if it were to be privatized? I like to know too.
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