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Friday, June 27, 2014

ULICorp: A bullish breakout!

ULICorp may have broken out of a Cu-with-handle yesterday. Its first target is RM1.40 & next one is RM1.70. It is trading at RM1.20 as at the time of writing (10.40am).


 Chart 1: Ulicorp's weekly chart as at June 26, 2014 (Source: Tradesignum)

ULICorp is involved in the manufacturing and trading of cable support systems, cable management systems, integrated ceiling systems, building materials and light fittings. It was successfully listed on the Second Board of Kuala Lumpur Stock Exchange on 23 April 2002.

ULICorp is a company with very healthy financial position. As at 31/3/2014, it has a current ratio & gearing ratio of 5.1 times & 0.2 time respectively. Its net cash stood at RM36.3 million or 28 sen per share.

Its financial performance is very steady, albeit minimal growth in top-line and bottom-line.


Chart 2: ULICorp's last 10 years' result  (Source: Equities Tracker)
 
Based on technical breakout, ULICorp could be a trading BUY.

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, ULICorp.

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