Tuesday, January 12, 2010

Sunway may have a bullish breakout

Sunway has broken its medium-term downtrend line at RM1.37. If it can also surpass its immediate horizontal resistance at RM1.40, a strong rally may unfold.


Chart 1: Sunway's daily chart as at Jan 12, 2010_9.35am (Source: Quickcharts)

Sunway-WC has also surpassed its horizontal resistance at RM0.47.


Chart 2: Sunway-WC's daily chart as at Jan 12, 2010_9.35am (Source: Quickcharts)

Based on the above, I believe Sunway & Sunway-WC looks set to go higher.
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3 comments:

  1. KelvinkcmTuesday, January 12, 2010 4:32:00 PM

    Hi Alex,
    What do you think about LATEXX? Can you suggest any support for this stock..
    Thanks!!

    Kelvinkcm

    ReplyDelete
  2. MaxWealth88Tuesday, January 12, 2010 5:07:00 PM

    hi Alex,

    Can you pls advise on ETI-TECH? checked its results is good but notice its directors keep on disposing this shares. tq

    ReplyDelete
  3. Alex LuWednesday, January 13, 2010 5:30:00 PM

    Hi KelvinKCM,

    Latexx's EPS for 3Q2009 was 7.3 sen. This will give it an annualized EPS of 29.2 sen. Its EPS for FY2010 could be higher due to its current expansion program. At the close of RM4.83 today, it is trading at a current PER of 17 times. I think it is fully valued at this stage, unless we factor in the additional output for FY2010.

    Chartwise, it is pressing against the horizontal resistance of RM4.80 & thereafter RM5.00 & RM5.20. But, I don't bet against a stock on exponential rise.

    ReplyDelete