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Tuesday, April 01, 2014

Dialog: Uptrend to continue

Dialog broke above its recent high of RM3.60. This breakout could send the stock to RM4.00 (based on simple projection). The surprising thing was this breakout was actually preceded by a bullish breakout by Dialog-WA at RM1.33 on March 21. I wonder why the share didn't lead the breakout this time around??

Anyway, a breakout is a breakout and Dialog is now good a trading BUY. Since Dialog-WA has run up quite a bit, I prefer the share to the warrant in this play. Good luck...


Chart 1: Dailog's daily chart as at Mar 31, 2014 (Source: Tradesignum)


Chart 2: Dailog-WA's daily chart as at Mar 31, 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, Salcon.

4 comments:

lai said...

Hi Alex,

i notice a cup and handle breakout for Fitters.

What do you think?

Thanks

charles leong said...

Hi Alex-recently v heard about this RTO of symphony house bhd by ranhill Engergy. i hv never bought any symphony shares.what are your views of this piece of news/ will appreciate if u can throw some comments on the RTO.Tq

Alex Lu said...

Hi lai,

The pattern for Fitters looks like a Cup-with-handle with breakout at RM0.90. Possible target is RM1.10.

We are nearing that target.

Alex Lu said...

Hi Charles Leong,

I didn't study this Ranhill Energy's RTO of Symphony. I am cautious on Ranhill group from past experience. The recent aborted listing of Ranhill Energy reinforced my view that we need to be cautious & vigilant with this group. Why bother with it when there are so many stocks to pick in the market.