Tuesday, January 04, 2011

BJCorp may have a bullish breakout

BJCorp has just broken above its strong horizontal line at RM1.14-1.15. This breakout could signal the start of the upleg for the stock. Its next horizontal resistance is at RM1.30 & then at RM1.45. With this upside breakout, BJCorp could be a trading BUY.


Chart: BJCorp's daily chart as at Jan 4, 2011_3.30am (Source: Quickcharts)

For those with a more aggressive appetite, you may try BJCorp-JB, which is a CBLC currently trading at a premium of 1% & expiring in May.


Table: BJCorp's CWs & CBLC valuation & terms
at

16 comments:

  1. NGUTuesday, January 04, 2011 5:36:00 PM

    Hi Alex,

    May I have your take on Allianz chart-wise as it has been going up quietly but steadily of late ?

    Thank you.

    ReplyDelete
  2. AnonymousTuesday, January 04, 2011 7:44:00 PM

    Hi Alex,

    Could you give some opinion on BURSA which has seen some recovery and uptrend lately.

    Thanks and cheers.

    ReplyDelete
  3. stTuesday, January 04, 2011 8:15:00 PM

    Hi Alex,
    I'm currently looking at Bernas & Mudajaya. Pls. let me have ur view on these 2 counter.

    ReplyDelete
  4. Alex LuTuesday, January 04, 2011 8:42:00 PM

    Hi st,

    Recently I posted this comment about Mudajaya:

    Mudajaya... is probably a well-run company which was unfortunately tarnished by the recent negative reports. If it can break above the psychological RM5.00 level, the perception could have changed. Until then, I am inclined to think that Mudajaya is a stock that you should "sell into strength" when it rises to the RM4.60-4.80 level.

    Bernas has a big move last week. It broke above its long-term downtrend line at RM2.30 and even surpassed its all-time high of RM2.60 recorded in 2000. What could lead to this huge rally? Privatization? We do not know. It could be a trading BUY if it can hold above the RM2.30-2.40 level.

    For the financial results f these companies, go & visit Bursa website.

    ReplyDelete
  5. Alex LuTuesday, January 04, 2011 8:54:00 PM

    Hi TheOne

    In the past 2 days, BURSA has risen sharply & snapped out of its 2-month old downtrend. This sharp rise will be tested soon by the RM8.00 horizontal resistance. If a correction were to set in, you can try to buy the stock at RM7.80, which is a horizontal resistance-turned-support.

    Bursa does not excite me as it is trading at a PE of 40 times!

    ReplyDelete
  6. Alex LuTuesday, January 04, 2011 9:03:00 PM

    Hi NGU

    Allianz has broken above the horizontal resistance at RM4.50-4.60 and it may soon challenge its all-time high of RM5.40 recorded in 2007. If we draw a parallel line to the current uptrend line, the parallel line would pose some resistance at RM5.20-5.30.

    At today's close of RM5.08, Allianz is trading at a diluted PE of 12 times (see link below). If we assumed a fair PE of 15 times, Allianz's fair price is RM6.45.

    http://nexttrade.blogspot.com/2010/12/allianz-preparing-for-breakout.html

    ReplyDelete
  7. CarmenTuesday, January 04, 2011 11:59:00 PM

    Hi ! Alex !

    Could you give some opinion on PADINI ??
    I'm just collect PADINI at RM1.10...
    Is this a potential counter after share split ?

    Wait your reply !
    Thanks !!
    Cheers !! :D

    ReplyDelete
  8. peterWednesday, January 05, 2011 12:53:00 AM

    Hi Alex,

    Could you give some opinion on MPHB and bjtoto recently?

    Thanks and cheers.

    ReplyDelete
  9. Michael LWednesday, January 05, 2011 9:39:00 AM

    Hi Alex,

    Could you please provide your opinion on Masteel which quite stable in the region of 1.10-1.15 for pass few weeks?

    Thank you.

    ReplyDelete
  10. Alex LuFriday, January 14, 2011 4:33:00 PM

    Hi Michael

    Sorry for the late reply. Masteel is having a good rally after breaking above the RM1.20 resistance. Its immediate resistance is the horizontal line at RM1.40 & thereafter the 2008 high of RM1.52.

    ReplyDelete
  11. Alex LuFriday, January 14, 2011 4:42:00 PM

    Hi fire

    After last year's duty hike, MPHB and bjtoto have not been the same. The recent prize reduction may help.

    BJToto has been range-bound between RM4.00 & RM4.50 for the past 2 years.

    MPHB is better off as it is in an uptrend line with support at RM2.20 & overhead horizontal resistance at RM2.45-2.50.

    ReplyDelete
  12. Alex LuFriday, January 14, 2011 4:57:00 PM

    Hi Carmen


    PADINI's full year EPS is about 10 sen. At the current price of RM1.15, it is trading at a PE of 12.4 times. For a mid-cap discretionary consumer stock, it could trade up to a PE multiple of 13-15 times. So its upside is 10-20%.

    Padini had a strong run-up over the past 25 years- rising from 35 sen to a recent high of RM1.35. It needs to consolidate this gain of nearly 290%! Good support at RM1.10 & then RM1.00.

    ReplyDelete
  13. AnonymousMonday, January 17, 2011 6:43:00 PM

    Alex, any idea what is going on with the BJCORP which keep on falling?

    ReplyDelete
  14. Alex LuSaturday, January 22, 2011 5:26:00 PM

    Hi Shop4Toys

    Sorry about BJCORP. It must have been a premature run-up. The correction that followed in the past few days has brought the stock back to an attractive price. I believe the RM1.08-1.10 level is a good entry level to this stock. However I do not think we will see another strong rally in BJCORP for the next few weeks.

    ReplyDelete
  15. AnonymousFriday, February 25, 2011 9:48:00 PM

    Hi Alex,

    any possiblity bjcorp reach back 1.25 level?

    ReplyDelete
  16. Alex LuThursday, March 03, 2011 10:28:00 AM

    Hi eddiechia68

    Bjcorp's technical outlook is poor. It's below the 200-day SMA line and that line has started to trend lower. This could mean the stock would go lower in the medium-term. The upcoming support levels are RM0.95 & RM0.70.

    ReplyDelete