Wednesday, June 23, 2010

MPHB has a bullish breakout

MPHB may have commenced on its next upleg with the upside breakout above the 'horizontal' resistance at RM2.06. See the 60-minute chart below.



Chart 1: MPHB's 60-minute chart as at June 23, 2010_11.00am (Source: Quickcharts)

Earlier, MOHB has broken above its short-term downtrend line at RM2.00-2.02 on June 16. Its next horizontal resistance is at RM2.13 & then at RM2.20.


Chart 2: MPHB's daily chart as at June 23, 2010_11.00am (Source: Quickcharts)

Based on the above, MPHB could be a good trading BUY.
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10 comments:

  1. UnknownThursday, June 24, 2010 2:02:00 PM

    Hi Alex,

    May I know Zelan ? entry point ?
    Fajarbaru ? entry point ?

    Which is better for buy in ?

    ReplyDelete
  2. 麗芬Thursday, June 24, 2010 8:14:00 PM

    This comment has been removed by a blog administrator.

    ReplyDelete
  3. HTDynamicFriday, June 25, 2010 11:47:00 AM

    Hi Alex,

    This week Euro zone and US share market had revisit back to SMA200 level, however I note that Asia market like FBM KLCI, STI and HSI is still holding up above SMA50.

    May I know it is save to buy in any good quality share like PBBANK and TOPGLOVE at this time?

    Will US market effect FBM KLCI? Last month on May when US market dip below SMA200 FBM KLCI also follow and dip below SMA200 in just 5 trading days but this time I see FBM KLCI is well supported.

    Thanks for your reply.

    ReplyDelete
  4. Alex LuFriday, June 25, 2010 11:55:00 AM

    Hi PHKoay,

    Zelan & Fajar are in a medium-term downtrend, with resistance at RM0.60 & RM1.10, respectively. However, Zelan & Fajar have broken above their short-term downtrend line at RM0.52 & RM0.96, respectively. Can they break above their medium-term downtrend line? We will have to wait & see. If they succeed, they may commence on their upleg.

    ReplyDelete
  5. Alex LuFriday, June 25, 2010 12:13:00 PM

    Hi HTDynamic,

    I would be posting something on the market later. I think the chance of good return for investing in the present market is likely to be low, while the probability of sharp drawdowns (read: losses) is likely to be high. Like the France football team, this market looks primed to bring more disappointment than excitement for the next few months.

    However, I think some sectors [such as construction & building materials] may enjoy some cheers & possibly out-performance over the next 6 months.

    ReplyDelete
  6. AnonymousFriday, June 25, 2010 12:46:00 PM

    Dear Alex

    Would you mind comment on Bjtoto. Its has declare second interim dividend of 8sen TE.

    Bjtoto also plan to raised capital 800m through issuance medium term note. These MTN have rating AA by RAM. I'm suspecting bjtoto may declare special dividend via these MTN, which in turn help bjland as major beneficial to partly fund its debt payment due by 11 Aug (700m debt)....

    ReplyDelete
  7. StephanieSaturday, June 26, 2010 12:08:00 PM

    Hi Alex,

    Can you please share your inputs on Sealink?. It's giving Final Single Tier Dividend of 4sen per share.

    Thanks.

    ReplyDelete
  8. AvatarSaturday, June 26, 2010 2:45:00 PM

    Dear Alex,

    Thanks for your opinions on Fajar and the construction & building materials sectors. At least I have some counters to add to my monitor list.

    Cheers. :)

    ReplyDelete
  9. Alex LuMonday, June 28, 2010 12:34:00 PM

    Hi hng

    When I read about BJToto's huge fund-raising, I also wonder what's the funds intended for. There are a lot of possibilities- huge dividend payout, Vietnam venture, etc. This will certainly add some spice to the stock over the next few months.

    However, it must be noted that BJToto's pre-tax profit has deteriorated over the past 2 quarters (from RM140 million to RM120 million), while sales was stagnant at RM850-860 million.

    If you want to get in early, try at RM4.20-30 level.

    ReplyDelete
  10. Alex LuMonday, June 28, 2010 12:40:00 PM

    Hi Stephanie,

    Sealink makes about 10 sen per annum. At the close of RM0.675 last Friday, it's trading at a PER of 7 times.

    Chartwise, it is range-bound between RM0.60 & RM0.70 for the next few weeks or months. It could be a worthwhile stock to buy at RM0.60-64.

    ReplyDelete