Friday, October 22, 2010

Exxon may have a bullish breakout

When I was reading up on BP's Deepwater Horizon oil spill in April-July, I was struck by the downtrend in a rival company, Exxon Mobil Corporation (NYSE: XOM). Since then, I have been keeping an eye on its chart. I noticed that Exxon may have just broken above its downtrend line at USD66 yesterday. Exxon trades at a PE of 12.8 times. For a summary of Exxon, go here.


Chart: Exxon's weekly chart as at Oct 16, 2010 (Source: Yahoo Finance)

Based on the technical breakout, Exxon could be a trading BUY.
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25 comments:

  1. cheerFriday, October 22, 2010 8:01:00 PM

    How do u think the TChong target price base on coming Q ?

    ReplyDelete
  2. UnknownFriday, October 22, 2010 8:51:00 PM

    May I know how and where can I trade US stock and index ?
    Thank you

    ReplyDelete
  3. hkloonSaturday, October 23, 2010 7:06:00 AM

    Hi Alex,

    What's your view on Mahsing?

    regards

    ReplyDelete
  4. AnonymousMonday, October 25, 2010 10:46:00 AM

    hi bro Alex. Please comment on BJRTAIL ... look like breakout le. how u think ??

    ReplyDelete
  5. MaxWealth88Monday, October 25, 2010 11:04:00 AM

    hi alex,

    what do you think about Proton as an undervalue stock? Its price is lower than its NTA and also launching new model soon. should worth >5?

    thanks
    maxwealth88

    ReplyDelete
  6. cheerMonday, October 25, 2010 11:22:00 AM

    What is SIGGAS business nature and how u think this stock .

    ReplyDelete
  7. AnonymousTuesday, October 26, 2010 1:04:00 AM

    Hi Alex,

    I still hold Fajar shares which I bought a couple months back. Can I have your opinion on the current and immediate future trend of this counter.

    Thank you.

    ReplyDelete
  8. AnonymousTuesday, October 26, 2010 1:05:00 AM

    Hi Alex,

    I still hold Fajar shares which I bought a couple months back. Can I have your opinion on the current and immediate future trend of this counter.

    Thank you.

    ReplyDelete
  9. AnonymousTuesday, October 26, 2010 1:07:00 AM

    Sorry for the double comments which were inadvertently posted.

    ReplyDelete
  10. AnonymousTuesday, October 26, 2010 8:38:00 AM

    hi bro. please comment on Permaju. Thx bro.

    ReplyDelete
  11. Alex LuTuesday, October 26, 2010 12:43:00 PM

    Hi Cheer,

    I can't answer that. I can only say that TChong has met my expectation of its price objective of RM5.00-6.00 ( here ).

    ReplyDelete
  12. IvanTuesday, October 26, 2010 1:21:00 PM

    Any idea on the coming MRT annoucment? When will the winner list will be annouce? Tq

    ReplyDelete
  13. Alex LuTuesday, October 26, 2010 2:14:00 PM

    hi kk

    You can trade US stocks with your stockbrokers. Most of the stockbroking firms in Malaysia have made arrangement to enable their clients to trade in overseas stocks. I am not sure hpw one can trade in index futures.

    ReplyDelete
  14. Alex LuTuesday, October 26, 2010 2:42:00 PM

    Hi hkloon

    Mahsing recorded a EPS of 7.5 sen for 1H2010. At RM1.89, Mahsing is now trading at a trailing PE of 12.6 times. However, Mahsing's future earning may be higher due to its aggressive launch schedule. This could see the company's earning soaring which would bring down its PE.

    Chartwise, Mahsing has tested its 2007 high of RM1.94 recently before correcting. The strong support would be at the 10-week SMA line at RM1.83 or at the 20-week SMA line at RM1.76.

    ReplyDelete
  15. Alex LuTuesday, October 26, 2010 2:45:00 PM

    Hi wong

    You are right. BJRTAIL is on the verge of an upside breakout at RM0.43. Keep an close watch on this stock. The bullish breakout could happen soon.

    ReplyDelete
  16. Alex LuTuesday, October 26, 2010 3:05:00 PM

    Hi MaxWealth88

    Proton's NTA per share of RM9.85 as at 30/6/2010 is cold comfort because the management cannot extract decent return from its assets. Similarly, it also has no plan to break up the company to extract value from these assets. So, we must see beyond this number. Proton's new model line-up is a start but is it enough to launch it into a new growth track. Proton has exhausted investors' goodwill by persistently "talking the talk" but consistently failing to "walk the talk".

    ReplyDelete
  17. Alex LuTuesday, October 26, 2010 3:18:00 PM

    Hi cheer

    For SIGGAS's business nature, go to Bursa website. Alternatively, try here .

    The company's net profit for 1H2010 ended 30/6/2010 was RM2.756 million. This gives an annualized EPS of 3.7 sen. Based on yesterday's close of RM1.11, SIGGAS is trading at a trailing PE of 30 times. At this PE multiple, SIGGAS is richly valued.

    SIGGAS has been trending higher since its listing. Its immediate support is at RM0.96-1.00.

    ReplyDelete
  18. Alex LuTuesday, October 26, 2010 3:30:00 PM

    Hi TheOne

    Fajar reported an EPS of 16.2 sen for FYJun2010. At yesterday's close of RM1.09, Fajar is trading at a trailing PE of 6.7 times.

    Chartwise, Fajar looks set to go higher. Its 10-week SMA line has crossed above its 20 & 40-week SMA lines in March. Fajar & Fajar-WA have risen a bit on increased volume over the past 3 weeks. If Fajar can surpass its high of RM1.19 recorded in August 2009, it could potentially hit a high of RM1.40-1.50.

    ReplyDelete
  19. Alex LuTuesday, October 26, 2010 3:39:00 PM

    Hi wong

    Permaju is a range-bound stock, trading between RM0.30 & RM0.50. On the otehr hand, one can also draw a downtrend line on the chart (if you ignore the sharp spikes of Nov 16-23, 2007 and Apr 23-30, 2010). The resistance from this downtrend line is at RM0.40. The stock is pressing against this downtrend line now.

    Permaju is a medium-size company which has incurred losses for the past 2 years.

    Based on its poor performance & unexciting technical outlook, you can give this stock a miss.

    ReplyDelete
  20. Alex LuTuesday, October 26, 2010 3:40:00 PM

    Hi Ivan

    I have no idea when the MRT will be announced.

    ReplyDelete
  21. kangmingwTuesday, October 26, 2010 4:14:00 PM

    what u think of cimb?

    ReplyDelete
  22. learnerTuesday, October 26, 2010 4:25:00 PM

    Hi Alex
    I like QSR because of its dominance in the fast food business. i noticed the share price has gone up quite a bit recently. what is your opinion on its short and long term outlook? if i plan to get in, at what price should i get in base on your analysis? Tq

    ReplyDelete
  23. jimmyTuesday, October 26, 2010 4:44:00 PM

    Hello Alex,

    What do you think of HSI-CB? Look like trading at quite a discount. Can you please help to clarify.

    Thanks

    Jimmy

    ReplyDelete
  24. AnonymousWednesday, October 27, 2010 1:47:00 AM

    Hi Alex,

    Thank you for you opinion on Fajar.

    Its really a slow moving counter but I do agree its on the upward trend lately with volume picking up.

    Cheers.

    ReplyDelete
  25. .Thursday, October 28, 2010 12:16:00 AM

    hi alex,

    how do you think for ho wah-wb, ho wah and dutaland warrant? right time to buy now? hope to get some advice.

    ReplyDelete