Based on the above, I would recommend readers to avoid YTL. For those holding the stock, you may want to do a trading SELL at this point of time.
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Chart: YTL's daily chart as at April 26, 2011_9.20am (Source: Quickcharts)
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6 comments:
hi alex, i think its because YTL's subsidiaries in Singapore was reporting a huge profit a few days back. maybe you can check that out and factor that into the Future value cashflow!
anything up on Scomi and scomi engineering, Alex? thanks for your many previous inputs!
I hv juz bought tis share ... is it fine to keep for long term?
Hi SunShine
I have always been asked the same question- is it okay to buy a stock, at high price, for long term? The simple answer is whether you want to make money, which is why we're in the market. You must be able to justify why you want to get into an expensive stock, be it long-term or short-term. For example, you may want to get into YTL because it may secure some big projects, which could boost its future earning or it has a bullish breakout (thus a trading BUY). Otherwise, try your very best to buy a stock which is attractively valued.
Hi Political Crow's Nest
On YTL, I don't think the current high price has anything to do with the development in Singapore. If that is true, why did the stock drop sharply in January & February?
I did not hear anything regarding Scomi recently. My thought is that this group has been steadily restructuring itself- selling off some major assets or divisions here & there- and it may soon announce something exciting. So far, nothing come out. The stock is still in a downtrend line, with resistance at RM0.35-0.36 (based on log scale). Its immediate support is at the horizontal line (& recent low) of RM0.285-0.29. Except for a brief rally in 2007, Scomi has been sliding since its listing in 2003. Based on this long record of under-performance, it would be advisable to buy on an upside breakout at RM0.35-0.36 rather than buy cheap & hold for forever.
Hi Alex,
Thanks for your advise. I bought tis share as ytl has just launched 4G project which I think the no of user will be increase in the near future. I'm to new in the market and still in the learning stage. Anyways, thanks for your great effort in providing us info. Cheers ;)
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