Thursday, January 26, 2012

Cenbond has a bullish breakout

Cenbond has just broken above its strong horizontal resistance at RM0.85. It has also surpassed its all-time high of RM0.88. Based on this double breakout, Cenbond's technical outlook is very bullish. Its immediate target is RM1.00.

Cenbond is involved in paper & plastic packaging. It has 2 lines for the production of stretchable film. For 1H2012 ended 30/9/2012, Cenbond reported a net profit of RM7.7 million on a turnover of RM90.6 million. Its annualized EPS for FY2012 is about 12.8 sen. At RM0.89 now, the stock is trading at a PE of 7.0 times.

Based on technical breakout, Cenbond could be a good trading BUY.


Chart: Cenbond's monthly chart as at Jan 3, 2012 (Source: Tradesignum)
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3 comments:

  1. desmondThursday, January 26, 2012 7:18:00 PM

    Hi Alex,
    Would you like to comment on ecofirs?
    thanks

    ReplyDelete
  2. cheerFriday, January 27, 2012 1:14:00 AM

    Hi Alex,

    Need u to comment 3 things below

    a. How u see pelikan as many buy back recently? Consolidating now?

    b. How u will advise for the Naim stock? One can give a watch before breakout?

    c. There many news around not really support the uptrend of CPO counter such as http://www.theedgemalaysia.com/business-news/199963-malaysian-palm-oil-down-as-export-orders-shift-to-indonesia.html and http://www.palmoilhq.com/crude-palm-oil-cpo-futures/ . Can the recent uptrend is part of the divergence sign ?

    ReplyDelete
  3. luckystock2Friday, January 27, 2012 9:45:00 AM

    Hi Alex ,
    I hold many plantation stocks. But as cheer said , there are some not so good news of cpo recently. What is your opinion about this?
    Tx!

    ReplyDelete