Yesterday, SAB broke above its strong horizontal resistance at RM3.00. As the breakout is on thin volume, sustainability is an issue. Is this a real deal or is it a bull trap? If the rally can sustain, a rough projection would put the target at RM4.00.
Based on technical breakout, this stock may be a trading BUY.
Chart: SAB's weekly chart as at Jan 21, 2014 (Source: Tradesignum)
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, SAB.
6 comments:
Hi Alex,
Some research house 'factored' in the land prices and mentioned it should worth this and that much. (Implying higher share prices)
What is your opinion on this?
Alex,
What is your opinion on CVIEW ?
It has just released a spectacular quarterly result. I believe it is as good as KSL.
Exactly , It is a informative and fundamental website about financial market. It is a very beneficial for us. So, I like it surely . Thank's for published this website. If you want more informastion about stock ticker to visit stock ticker While in the past, the conventional people could receive prices just about every evening provided by the firm portion of typically the newspaper. 1 can potentially explore typically the estimate post during 3 with a special afternoon sole to become shopping during termination deals virtually at any hour old. For any on the lookout for to assist you to immediately make trades that is want operating an auto without windows.
Hi lai,
I guess if you tell them, they will just buy! Sometimes a stock is undervalued because investors did not know about its underlying assets or potential. Thus we cannot subscribe to the Efficient Market Theory wholeheartedly because 75% of our stocks are not covered by analysts.
Hi Big Sea
CVIEW has been reporting pretty good profit. Its FY2013 net profit was RM78 million- an increase of RM40 million from last year. This came form its two projects, Taman Nusa Sentral and Residence at The Peak.
Its valuation is not demanding with trailing PER at 4.3x.
Chartwise, it is in an uptrend. It may go even higher if it can convincingly charge thru the RM3.30 resistance.
If you have the stock, you may want to hold onto it for now.
Alex,
Thanks for your advise
Post a Comment