Monday, November 26, 2007

WTHorse reported higher net profit for QE30/9/2007

WTHorse's net profit increased by 22.8% q-o-q to RM12.9 million on the back of a 3.6%-gain in turnover to RM108.4 million. This is, however, still marginally lower than that reported in the same quarter last year. Nevertheless, the sign of a recovery in WTHorse's financial results is clearly on the way.

The chart below shows that the share has done a 'test of the low' in the past few weeks. The stock did not make a new low and, with its MACD hooking up, it could be poised to recover soon.

Chart: WTHorse's daily chart as at November 23 (courtesy of Quickcharts)

In view of the good financial results & mildly positive technical set-up, WTHorse could a good buy at the current price.

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