Friday, April 30, 2010

Maybank's uptrend may continue

Maybank has just broken above its short-term downtrend line at RM7.50. As at 10.00am, the stock was up 12 sen to RM7.60.


Chart: Maybank's daily chart as at April 30, 2010_10.00am (Source: Quickcharts)

A cheaper option is to try Maybank-CL, which expired in August 2010. Its main terms are exercise ratio of 8-to-1 and exercise price of RM6.84. At the present price of RM0.115, Maybank-CL is trading at a discount of 2%.

Based on the above technical breakout, Maybank could be a trading BUY.
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20 comments:

  1. MaxWealth88Friday, April 30, 2010 10:43:00 AM

    hi alex,

    what do you think about BCorp offer to give away Cosway for free? Sounds too generous...

    thanks
    maxwealth88

    ReplyDelete
  2. UnknownFriday, April 30, 2010 11:12:00 AM

    how about counter 8516? What's the TP? TQ

    ReplyDelete
  3. HTDynamicFriday, April 30, 2010 12:16:00 PM

    Hi Alex,

    Now Maxis share price had been around RM 5.30 for some time, is it now is a good time to buy Maxis call warrant?

    Maxis is profitable company so I think the share may move up by this year.

    ReplyDelete
  4. kyongFriday, April 30, 2010 1:50:00 PM

    Dear Alex,
    GENM is active the last few days, on technical basis, do you think that it may be germinating a bullish breakout soon ?
    Thanks

    ReplyDelete
  5. AnonymousFriday, April 30, 2010 2:14:00 PM

    hi alex. where is TALAM support level? can buy at 14.5sen?

    ReplyDelete
  6. Alex LuFriday, April 30, 2010 4:15:00 PM

    Hi wong,

    TALAM's breakout-turned-support level is at RM0.135-14.

    ReplyDelete
  7. Alex LuFriday, April 30, 2010 4:20:00 PM

    Hi MaxWealth88,

    I think the news of BJCorp distributing Cosway was announced earlier. It is pretty much factored into BJCorp price. BJCorp is being carried higher on its momentum. Check out my earlier posts on this stocks below:

    http://nexttrade.blogspot.com/2006/12/bjcorp-whats-up.html

    http://nexttrade.blogspot.com/2009/09/insas-rallied-can-bjcorp-bjland-join-in.html

    ReplyDelete
  8. Alex LuFriday, April 30, 2010 4:23:00 PM

    Hi HTDynamic,

    You are right that Maxis is profitable company. However, it needs a catalyst for an upside breakout from its current trading range of RM5.25-5.50. I don't see anything on the horizon which may prompt investors to sit up & say "I must get into Maxis". Do you?

    ReplyDelete
  9. Alex LuFriday, April 30, 2010 4:28:00 PM

    Hi kyong,

    Genting & Genting SP are going up. GenM is trying to get into the act. I think an upside breakout of its medium-term downtrend line at RM2.92-94 could possibly signal the start of the much-anticipated upleg. Like many, I'll believe it when I see it.

    ReplyDelete
  10. AnonymousFriday, April 30, 2010 5:18:00 PM

    Dear Alex

    What do think about classic scenic? these stock keep breaking all year high level and seem on uptrend. Classic scenic is cash rich company, and have propose 14% or 7sen TE dividend. Based on today closing price of 67.5sen, its dividend yield is more than 10% net!

    ReplyDelete
  11. IvanFriday, April 30, 2010 6:24:00 PM

    fuyoh. .
    but mbb adi fly hight today.. .
    still can chase meh?

    ReplyDelete
  12. qwertySaturday, May 01, 2010 5:22:00 PM

    Hi Alex,

    what is your opinion about Notion recent private placement and Free warrant? How bout the TA wise?

    ReplyDelete
  13. Alex LuMonday, May 03, 2010 3:28:00 PM

    Hi hng,

    Classic scenic is financially very healthy, with cash reserve of RM20 mil as at 31/12/2009. It has no bank borrowings. NTA per share is about RM0.78. EPS for FY2009 was 6.9 sen. So, at a closing price pf RM0.675, it is trading at a trailing PER of 9.8 times.

    It proposed a first & final of 7sen TE dividend for FY2009- gives a dividend yield is more than 10%.

    The stock is in an uptrend, with good entry level is at the horizontal support of RM0.60-62. Immediate resistance at RM0.70. Thereafter, the strong resistance would be at the horizontal line of RM0.89-90, which coincides with the resistance of the long-term downtrend line.

    ReplyDelete
  14. Alex LuMonday, May 03, 2010 3:38:00 PM

    Hi Ivan,

    For most stocks, I would not comment one way or the other. However, I will make an exception for Maybank. I think it will probably rise further. I see RM8.00 as the immediate target.

    ReplyDelete
  15. Alex LuMonday, May 03, 2010 3:40:00 PM

    Hi qwerty,

    Check out my earlier post plus comment on Notion. Link provided below:

    http://nexttrade.blogspot.com/2010/04/notion-testing-its-acelerated-uptrend.html

    ReplyDelete
  16. LaymanMonday, May 03, 2010 3:57:00 PM

    Dear Alex,

    Genting seems moved uptrend. any supporting points? thanks

    ReplyDelete
  17. IvanMonday, May 03, 2010 5:54:00 PM

    thanks bro ..
    i think i am still far away behind the skill of TA. .. .dono how and read the chart. . . the chart can know me . but i hardly smell the chart :( huhu . . . adi spend more than 2 yaers. .still poor. .

    ReplyDelete
  18. IvanMonday, May 03, 2010 6:07:00 PM

    bro , what and how u so confidence that maybank can kiss rm8? how u look a chart? from week to daily basic ? how you study and finally can smell the movememnt on it? :D

    ReplyDelete
  19. IvanMonday, May 03, 2010 8:14:00 PM

    seem genting , genm , talam, not bad wo . . any idea bro?

    genm- curious transcation involve in this 2 days -Friday and Monday . HUge collection by some BIG guy. (I in genm-cw today)

    cimb-cw a bit out due the premoum > 5% . .

    pbbank-cw with osk issuer. . always trade at lelong. .bettr i no touch

    ReplyDelete
  20. KENNY BLOGTuesday, May 04, 2010 12:07:00 AM

    Hi, Alex. You posted earlier regarding avoiding get into the train of MBO of KNM initiated by the Lee family. U were right, KNM were trading around 80 sen, near to the 90 sen offered. But now, KNM is only arnd 54 sen, plus revise of the audited financial result for FYE 2009 where an increase of 50% net profit due to tax relief of acquisition of Borsig group. Based on TA and FA, is it right time to buy KNM now?

    ReplyDelete