Bearing in mind that we have just witnessed a window dressing session today, there are a number of stocks which have broken above their downtrend line. These include MBMR, Sapcres and MSM. Of these, I think MSM looks promising as it has broken above the downtrend line at RM4.92. The three indicators- MACD, RSI & ADX- are quite supportive of a rally for the stock. Let's track this stock closely for the next few days to see whether this technical breakout can lead to a rally for the stock.
Chart: MSM's daily chart as at Nov 30, 2011_4.40pm 9Source: Quickcharts)Incidentally, MSM has just announced its results for QE30/9/2011. For 9-month period ended 30/9/2011, MSM reported a net profit of RM187 million on a turnover of RM1.69 billion. The 9-mth EPS of 26.6 sen would translate to a full-year EPS of 35.5 sen. As such, MSM (closed at RM5.00 today) is now trading at a PE of 14 times. For a consumer stable, MSM is deemed reasonably priced.
Hi Alex
ReplyDeleteWhat do think of Boustead holding?
Window dressing on GLC and other big cap stocks today seem miss on boustead, which send it to closed lowest level today and become one of the top losers.
Boustead share also today ex- for its offer for sale of Pharmaniaga on 1:25, issue at RM5.45, which then subsequently entitle bonus 1 for 10. Current boustead share also trade cum its 3th interim dividend of 12sen TE.
Hi hng
ReplyDeleteBoustead has been moving sideway for the past 6-7 weeks. It is range-bound between RM5.25 & RM5.50. A break above or below the range would signal the direction of the next price movement.