Thursday, July 22, 2010

CBIP may have a bullish breakout

CBIP broke above its downtrend line at RM2.90 yesterday. Its next resistance may come from the horizontal line at RM3.60-65.


Chart:CBIP's weekly chart as at July 21, 2010 (Source: Quickcharts)

Based on the bullish breakout, CBIP could be a trading BUY. In view of the uncertainty in the overall market, you need to exercise your discretion on trading activity at the present moment.
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15 comments:

  1. UnknownThursday, July 22, 2010 3:52:00 PM

    Hi Alex,

    Can you please share you inputs on KPJ ?. Looks like something is brewing inside. Everyday up up. Is it too expensive to buy.

    ReplyDelete
  2. MaxWealth88Thursday, July 22, 2010 4:38:00 PM

    hi Alex,

    what is your view on Advance Packaging?

    btw i found this link interesting, any comment?
    http://finance.yahoo.com/tech-ticker/get-out-while-you-can!-dow-headed-to-5000-charles-nenner-says-520577.html?tickers=^dji,^gspc,spy,^ixic,qqqq,dia,iwm&sec=topStories&pos=9&asset=b5ff8af9be69ad774850d18430a2ee7c&ccode=

    thanks
    maxwealth88

    ReplyDelete
  3. cheerThursday, July 22, 2010 9:22:00 PM

    Pls comment Topglov. What is best price to enter and whether now is right time to enter ?

    ReplyDelete
  4. KENNY BLOGThursday, July 22, 2010 9:45:00 PM

    Hi Alex,
    The market is very hot this few days. This might due to high GDP growth recorded by our neighbour country and gain of confidence of investors follewed by the increase of OPR by bank negara. Alex, do u think the recession is over? Double dip recession coming? Or it just some market speculation? U think Q2 companies result will be good enough to drive the market to continue its bullish surge?

    ReplyDelete
  5. cheerThursday, July 22, 2010 10:06:00 PM

    Pls comment JADI and HOVID

    ReplyDelete
  6. kianFriday, July 23, 2010 6:28:00 AM

    pls comment on bjcorp which keep on falling despite the owner keep buying ?

    ReplyDelete
  7. Alex LuFriday, July 23, 2010 8:16:00 AM

    Hi qian qian

    KPJ is on a strong uptrend, which is likely to continue. No weakness noted in the indicators. More importantly, it has broken above its uptrend parallel line at RM3.60 on Wednesday.

    ReplyDelete
  8. Alex LuFriday, July 23, 2010 8:43:00 AM

    Hi qian qian,

    One more thing, KPJ is now trading at a trailing PER of 17.5 times (based on last 4 quarters' EPS of 20.6 sen). Despite being tagged as a growth stock a growth stock, KPJ's top-line & bottom-line did not grow for the past 4 quarters. This will change once the results started to flow in from Sabah Medical Center, for which the acquisition was completed on June 25.

    As a growth stock in the healthcare sector, i think KPJ could trade up to a PER of 20 times, the same valuation enjoyed by its regional peers.

    ReplyDelete
  9. Alex LuFriday, July 23, 2010 9:11:00 AM

    Hi MaxWealth88

    Advance Packaging is a small marginally profitable, making annual net profit of about RM1 million on sales of RM25 million. Strangely it has proposed Capital Repayment of RM0.50 per Share & Consolidation of two units of 50 sen Share to one unit of RM1.00 Share. A small company that will get even smaller, with share capital dropping from 41 million to 20.5 million shares later. Chartwise, Advance Packaging has good support at RM0.90 and strong resistance at RM1.25.

    I've read the short article entitled "Get Out While You Can! Dow Headed to 5000, Charles Nenner Says"

    His market outlook is too bearish for my liking, especially his advice for the average investor: “You don't want to get in the market,” he says. “For the next couple of years, just be happy if you don’t lose money.”

    Thanks for the link.

    ReplyDelete
  10. Alex LuFriday, July 23, 2010 9:48:00 AM

    Hi cheer

    Topglov could be a good BUY at the 200-day SMA line of RM6.00.

    Jadi will face resistance at 25-26 sen and then at RM0.30. Immediate support at 24 sen.

    Hovid is in a downtrend. If it break below the recent low of 16 sen, the downtrend will continue & it may test its all-time low of 14 sen. Downtrend line resistance is at 25 sen.

    You should try to use Tradesignum website to do some basic charting. You may learn to enjoy...

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  11. Alex LuFriday, July 23, 2010 10:24:00 AM

    Hi KENNY BLOG

    You asked some good questions. Let tackle the easy ones- our economy is definitely out of the recession & the market's always about speculation (we just have more of it now).

    Now, for the difficult ones- will there be double dip (for Malaysia, I think it's unlikely but for US & Europe, it's possible) & will 2nd Quarter results be better (I think it will be a mixed bag).

    What I think you like to hear is whether you should play this market TODAY? For full-timers, you cannot afford not to go in. Why? Because, if it keeps going up, you will eventually get in with a vengeance & possibly at the top. That would be a disaster. Get in a bit now & take some insurance in the form of protective stop. AS the saying goes, "Make hay while the sun shine". Good luck!

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  12. UnknownFriday, July 23, 2010 11:01:00 AM

    Thanks Alex.

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  13. LimFriday, July 23, 2010 11:10:00 AM

    Hi Alex,

    Appreciate if you can comment on Zhulian? Recently, they gave out bonus issue. Thanks.

    ReplyDelete
  14. AnonymousFriday, July 23, 2010 11:20:00 AM

    This comment has been removed by a blog administrator.

    ReplyDelete
  15. UnknownFriday, July 23, 2010 3:47:00 PM

    how bout kossan ??
    will same as topglove ? since split soon...

    ReplyDelete