Monday, December 17, 2007

Timecom- a Trading Buy

Timecom has corrected very sharply after recording a high of RM1.44 on July 31st. It has hit a recent low of RM0.72 on November 28th & December 4th. That is 50% off its high of RM1.44 as well as coinciding with a tentative uptrend line support of RM0.73. Without considering Timecom's financial performance & condition, I believe that this could be a good level for a strong rebound in this stock. As such, Timecom is now a good Trading Buy, with a stop loss at RM0.68 (5 sen below the tentative uptrend line support of RM0.73).

Chart: Timecom's weekly chart as at December 14 (courtesy of Quickcharts)

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