Based on this, JCY could be a trading BUY.
Chart: JCY's daily chart as at Oct 18, 2011_plotted on log scale (Source: Tradesignum)
Wednesday, October 19, 2011
JCY- may have a bullish breakout
JCY has been rallying for the past few days. Its plant in Thailand is not affected by the flood. As such, it may benefit from other people's misfortune and enjoy higher sales for the next few months. Chartwise, the stock is now testing its downtrend line at RM0.51-0.52. An upside breakout above this downtrend line could set the stage for a rally for JCY. Its next resistance is at the horizontal line at RM0.58-0.60.
Based on this, JCY could be a trading BUY.
Chart: JCY's daily chart as at Oct 18, 2011_plotted on log scale (Source: Tradesignum)
Based on this, JCY could be a trading BUY.
Chart: JCY's daily chart as at Oct 18, 2011_plotted on log scale (Source: Tradesignum)
Dear Alex,
ReplyDeleteCan you comment on Thong Guan Industries from fundamental and technical wise? The share suddenly surge today. Thanks.
Hi Alex ,
ReplyDeleteCan you further comment on JCY's fundamental ? I heard some people say that it's a poor management company.
Tx!
Hi TRULY MALAYSIAN
ReplyDeleteThong Guan Industries is in an uptrend line, with support at RM0.92-0.93. It tested that support in late September. It is moving in an "upward channel" where the upper channel will pose resistance at RM1.40.
The company's top-line & bottom-line, which have improved steadily since 2009, picked up pace over the past 3 quarters. based on these last 3 quarters' results only, the company is now trading at a PE of 4.5 times. That's quite attractive.
Thanks a lot Alex.
ReplyDeleteHi luckystock2
ReplyDeleteJCY's fundamental is nothing to shout about. It incurred a loss for the last quarter, QE30/6/2011.
The HDD sector is suffering from lower demand for the past few quarters. Analysts attributed this to rising popularity of tablets [which use solid state drive] as compared to laptops or netbooks which are declining in popularity. Laptops & netbooks use HDD.