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Friday, January 03, 2014

Success- let the race begin...

Success broke above its 2010 high of RM1.39 last week. Success is swimming upstream against the jaws of the hungry bears; proving to everyone that nothing succeed as well as Success!!!

I had posted on this stock recently (here). From my simple projection, I put a potential target price of RM1.95 for the current move.

Based on satisfactory financial performance, attractive valuation & bullish technical outlook, Success may be a good trading BUY.


Chart: Success's weekly chart as at Jan 2, 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, Success.

5 comments:

charles leong said...

Hi Alex-you have posted twice on success on 12/3/13 and 26/11/13.got in at 122 but alas was shaken out when it didnt moved inspite of the NTA at 183 which u pointed out.Goes to show v musthave patient.can go in again when it pulls back? what do u think?

lai said...

Hi Alex,

May i know what is your current technical assessment of Fitters pls.

Looks like it breakout from its triangle pattern?

Thanks.

Alex Lu said...

Hi charles leong

Patient is good virtue but it is a scarce commodity in the stock market. There is too much short-term-ism in the market. The players are aware of our weaknesses- greed, inpatient & fear- and they used them to their advantage. Be careful not to be drawn into the vortex of this whirlpool.

Alex Lu said...

Hi lai,

Fitters seems to be getting ready for its next upleg. If it can surpass the RM0.85 mark, it will take off.

lai said...

The greatest enemy is always oneself.

No one saves us but ourselves. No one can and no one may. We ourselves must walk the path.
- Buddha -