Table: Tunepro's last 8 quarterly results
Graph: Tunepro's last 23 quarterly results
Tunepro (closed at RM1.09 yesterday) is now trading at a PER of 14.7 times (based on last 4 quarters' EPS of 7.43 sen). Its dividend yield is about 4.6% (based on dividend payment of 5 sen in FY16). Based on these 2 valuation models, Tunepro is deemed fairly valued.
Tunepro broke below the medium-term downtrend line, rr at RM1.02 in late August. It then rallied to a high of RM1.12 before correcting back to about RM1.05. Today, it broke above the recent high of RM1.12- possibly starting its recovery.
Chart 1: Tunepro's daily chart as at Sep 7, 2017_12.30pm (Source: Malaysiastock.biz)
Tunepro's immediate resistance could be the intermediate downtrend line, RR at RM1.30. If it can also break above this downtrend line, then Tunepro could begin its next upleg.
Chart 2: Tunepro's weekly chart as at Sep 7, 2017_12.30pm (Source: Malaysiastock.biz)
Despite weaker financial performance and negative technical outlook, Tunepro remains a good stock for a recovery play due to its recent sharp selldown from RM1.60 to RM1.00.
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.