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:
Hi Alex,
How you feel abt JCY result announced today?
Thanks.
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.
Good move was spot on!
Hi Alex,
Can you comment on 3A?
Thanks.
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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