This is a personal weblog, reflecting my personal views and not the views of anyone or any organization, which I may be affiliated to. All information provided here, including recommendations (if any), should be treated for informational purposes only. The author should not be held liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein.
Wednesday, January 06, 2010
Axiata may have a bullish breakout
Axiata has just broken above its medium-term downtrend line at the RM3.15.
Chart: Axiata's daily chart as at Jan 6, 2010_9.25am (Source: Quickcharts)
Luxchem is involved in the supply of industrial chemicals & materials and the manufacture of UPRs (unsaturated polyester resins).
It reported a net profit of RM13.9 million on turnover of RM222 million for 9-month ended 30/9/2009. Its annualized EPS is about 14 sen. At the closing price of RM1.13, it is now trading at PER of 8.1 times.
Chartwise, the stock is in an medium-term uptrend, with support at RM0.95-1.00 (from the 50 & 100-day SMA lines). It had a strong rally over the past 6 days but closed with a "shooting star" yesterday. This could indicate a temporary top for the short-term and a pullback to the support of RM0.95-1.00 is possible. If these supports are not violated, Luxchem may continue to trend higher after a short correction.
Axiata's next resistance is about RM3.70-80, but I feel that it may hit the RM4.00 mark. The reason for the high target is that Axiata has been consolidating for a fairly long period (about 5 months) and a rally after a long consolidation can be quite powerful.
You're most welcome. However, there are many predictions or calls that did not pan out as I had hoped for. Even those that had turned out to be accurate were rather short-lived. I'm worried that this CNY rally may become one giant bulltrap.
Thank Mr Alex. I'm your avid nexttrade blog reader since my friend introduced to me 2-3 years ago. Now, I start to buy some GENM - I feel its will move soon.
Anyway, I from Penang Island. If u coming now to Penang, pls give me a call, I like to meet u personally and thank you.
Please contact me with this e-mail :bayeap@streamyx.com
7 comments:
Hi Alex,
Would u please comment on Luxchem?
Hi High Society,
Luxchem is involved in the supply of industrial chemicals & materials and the manufacture of UPRs (unsaturated polyester resins).
It reported a net profit of RM13.9 million on turnover of RM222 million for 9-month ended 30/9/2009. Its annualized EPS is about 14 sen. At the closing price of RM1.13, it is now trading at PER of 8.1 times.
Chartwise, the stock is in an medium-term uptrend, with support at RM0.95-1.00 (from the 50 & 100-day SMA lines). It had a strong rally over the past 6 days but closed with a "shooting star" yesterday. This could indicate a temporary top for the short-term and a pullback to the support of RM0.95-1.00 is possible. If these supports are not violated, Luxchem may continue to trend higher after a short correction.
Perfect forecast on Axiata ... thx Alex
Tq Mr Alex for accurate preduction of Axiata, may be , can U help us on Axiata next resistance level
Hi klinik bersatu,
Axiata's next resistance is about RM3.70-80, but I feel that it may hit the RM4.00 mark. The reason for the high target is that Axiata has been consolidating for a fairly long period (about 5 months) and a rally after a long consolidation can be quite powerful.
Hi Ahmad Rozian,
You're most welcome. However, there are many predictions or calls that did not pan out as I had hoped for. Even those that had turned out to be accurate were rather short-lived. I'm worried that this CNY rally may become one giant bulltrap.
Thank Mr Alex. I'm your avid nexttrade blog reader since my friend introduced to me 2-3 years ago.
Now, I start to buy some GENM - I feel its will move soon.
Anyway, I from Penang Island. If u coming now to Penang, pls give me a call, I like to meet u personally and thank you.
Please contact me with this e-mail :bayeap@streamyx.com
Post a Comment