Advertisement

Thursday, June 08, 2017

SCABLE: Here We Go Again?

Yesterday, SCABLE finally broke above the “horizontal line” at RM1.18 (see Chart 1). In the past 2 occasions when the stock had a similar upside breakout, we saw the share price rallied to the preceding high. If the current breakout can develop into a strong rally, SCABLE may repeat the feat of touching its preceding high of RM1.80 (see Chart 2).

As such, SCABLE (now trading at RM1.23) could be a good stock for a medium-term trade. If the anticipated rally does not pan out, we were not be too badly off as the stock is still trading not far from its bottom of RM1.10. The reward to risk proposition is attractive as the upside of about 60 sen while the downside is a bit over 10 sen. Good luck                       

 
 Chart 1: SCABLE's daily chart as at Jun 7, 2017 (Source: MalaysiaStock.biz)

 
Chart 2: SCABLE's weekly chart as at Jun 7, 2017 (Source: MalaysiaStock.biz)

By the way, I appended below the recent financial performance of SCABLE. It is underwhelming!

 
Graph: SCABLE's last 18 quarters' result

Note:
I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.

No comments: