Advertisement

Wednesday, April 06, 2016

Sasbadi: A Bullish Breakout

Sasbadi Holdings (Sasbadi) is a market leader in the local educational publishing industry. In addition to the publishing business, it has diversified into educational services industry by setting up applied learning centers. Since its listing on the local bourse in 2014, Sasbadi has attracted some following. It is covered by a few research houses, which helped to promote the stock to investors. If you like to know more about the company, check out Mercury Securities's report in 2014 (here).

After its listing, Sasbadi has a good run-up from RM0.70 to RM1.40. Over the past 9 months, the RM1.40 mark has capped furtherprice increase in the stock. Today, Sasbadi broke above this resistance level. With this breakout, Sasbadi is likely to continue with its prior uptrend.


Chart:Sasbadi's weekly chart as at April 6, 2016_2.45pm (Source: ShareInvestor.com)

Based on technical breakout, Sasbadi could be a good 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, Sasbadi.

No comments: