Friday, January 08, 2010

Jerneh has just surpassed its recent high of RM2.20

Jerneh has just broken above its recent high of RM2.20 (see 60-min chart, Chart 1). This is also a very strong horizontal resistance (see the monthly chart, Chart 2). The next resistance is at RM2.90-3.00.


Chart 1: Jerneh's 60-min chart as at Jan 8, 2010_4.20pm (Source: Quickcharts)


Chart 2: Jerneh's monthly chart as at Jan 7, 2010 (Source: Tradesignum)

Based on the above, Jerneh could be a trading BUY. This would supersede the previous post which suggest profit-taking for Jerneh (go here).
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2 comments:

  1. WK888Saturday, January 09, 2010 12:34:00 PM

    is the impairment loss in genm on star cruise a 1 time thing as per noted in 4Q 2008 report?

    thanks to clarify

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  2. Alex LuMonday, January 11, 2010 5:26:00 PM

    Hi Wedding Gifts,

    Yes, the figure is the cumulative fair value loss of RM781.5 million representing the decline in value of Star Cruises' share price from USD0.24 at the time of the de-recognition of Star Cruises as an associate company (July 2007) to USD0.085 as at 31/12/2008. For more, see item (c) of Part 1 of the Unaudited Financial Statement.

    ReplyDelete