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Tuesday, May 20, 2014

Petdag: Uptrend line broken!





Finally, it happened. Petdag broke its uptrend line. With this breakdown, Petdag's downside could continue. See my earlier report (here).


Chart 2: Petdag's weekly chart as at Feb 6, 2014 (Source: Tradesignum)

Based on high valuation, poorer financial performance & bearish technical outlook, Petdag's rating is now revised from SELL INTO STRENGTH to just SELL.

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, Petdag.

6 comments:

lai said...

Hi Alex,

How you feel abt JCY result announced today?

Thanks.

Alex Lu said...

Hi lai,

JCY's latest result is fairly good. NP increased by 13% q-o-q to RM38m while revenue was unchanged. If there is a small concern, it is the non-growth in revenue.

However, the technical outlook is unexciting. There is no sign that it would go either way. So it is likely to be sideways for now.

GA aka Goreng Addict said...

Good move was spot on!

Jim said...

Hi Alex,

Can you comment on 3A?

Thanks.

Alex Lu said...

Hi Jim

3A seems to be growing its revenue very well but not its profit. It may be using a strategy of getting market share now; thus sacrificing its bottom-line. Once it is established, it may be able to raise its profit margin slowly and ripe the reward. We will have to wait & see.

Chartwise, it is still in a downtrend with horizontal support at RM0.85-0.90.

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