Thursday, January 19, 2012

Maybulk & Haio- Strong rally! Time to take profit?

Presently, two stocks have rallied despite uninspiring financial performance. The first stock is Maybulk, the shipping company that is part of the Robert Kuok group. Maybulk tested its long-term downtrend line at RM2.25. Unless there is breakout above the downtrend line, I feel that you should sell into the present rally.


Chart 1: Maybulk's weekly chart as at Jan 19, 2012_11.00am (Source: Quickcharts)

The second stock which has rallied very well is Haio. The chart looks very nice as the stock has broken above the 40-week SMA line at RM2.01. At the present price of RM2.30, Haio is trading at a PE of 15 times. At that multiple, Haio is fully valued. Despite the bullish technical outlook, I feel investors should take profit on their investment in Haio, especially when it approaches the resistance at RM2.40.


Chart 2: Haio's weekly chart as at Jan 19, 2012_11.00am (Source: Quickcharts)

For my recent posts on Maybulk & Haio, go here & here.
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14 comments:

  1. luckystock2Thursday, January 19, 2012 2:34:00 PM

    Hi Alex ,
    What do you think about TWSplant ? It has rallied recently but seem like weak during these few days.
    Tx!

    ReplyDelete
  2. StanleyThursday, January 19, 2012 3:45:00 PM

    Hi Alex, do u think cypark is a stock for long term play? Current prices are quite attractive.

    ReplyDelete
  3. JimThursday, January 19, 2012 4:01:00 PM

    Hi Alex,

    Can you comment on MPI after upgrade on positive outlook for semicon?

    Thanks.

    ReplyDelete
  4. AnonymousThursday, January 19, 2012 5:48:00 PM

    Dear Alex,

    Thanks for sharing so much information. I just want to ask. I'm not an expert on this matter but do you think AT 0072 would make a rally based on the 2 weeks price resistance of 0.14 to 0.15?

    Thanks again.

    ReplyDelete
  5. desmondFriday, January 20, 2012 9:09:00 AM

    Hi Alex,
    Do you have any comment on UOADEV?

    Thanks

    ReplyDelete
  6. Alex LuFriday, January 20, 2012 9:44:00 AM

    Hi Juan Hardiez

    I saw the chart of AT. It is interesting & potentially bullish. I did not post on it because its financial performance is quite unexciting. It is primarily an integrated designer and manufacturer of industrial automation systems and machinery with supporting activities including Fabrication of Parts and Equipment, and provision of Industrial Automation Support Products and Services.

    Chartwise, it should have good support at RM0.115 & RM0.085.

    Good luck.

    ReplyDelete
  7. Alex LuFriday, January 20, 2012 9:46:00 AM

    Hi Jimmy Yeoh

    I call a long-term buy on MPI earlier. The stock has swung up sharply lately. It could be the beginning of its recovery. However, you should note that the financial performance of the company is poor.

    ReplyDelete
  8. Alex LuFriday, January 20, 2012 9:49:00 AM

    Hi Stanley

    cypark is still in a downtrend. I have called a trading BUY earlier but the breakout faltered (see link below). It could be a long-term investment stock but do accumulate slowly.

    http://nexttrade.blogspot.com/2011/07/cypark-breaking-above-its-downtrend.html

    ReplyDelete
  9. Alex LuFriday, January 20, 2012 9:52:00 AM

    Hi luckystock2

    TWSplant seems to have formed an expanding triangle. It tested the upside resistance at RM4.75 recently. I do not expect it to drop to the downside support (of that triangle) at RM2.50. No way! The immediate support would be the horizontal line at RM4.00. Your strategy is to buy at RM4.00 & try to sell at RM4.75-5.00.

    ReplyDelete
  10. Alex LuFriday, January 20, 2012 9:55:00 AM

    Hi desmond

    I think UOADEV is at the beginning of an uptrend. Good entry is between RM1.40-1.50.

    ReplyDelete
  11. AnonymousFriday, January 20, 2012 10:01:00 AM

    Thanks very much Alex for the advice and information. I'm gonna further study the trend before making any move.

    Thanks again.

    ReplyDelete
  12. bennu chongFriday, January 20, 2012 10:29:00 AM

    bro seems like its tech stock trend now... jcy,unisem and mpi all firing up... any other tech stock to watch?

    ReplyDelete
  13. SureWinFriday, January 20, 2012 12:01:00 PM

    Hi Alex,

    Gong Xi Fatt Cai

    Would you mind to do a TA on INGENS? Gotta feeling it is brewing....

    Thanks.

    ReplyDelete
  14. Alex LuWednesday, January 25, 2012 5:50:00 PM

    Hi SureWin

    INGENS is a tricky stock. It has strong resistance at RM0.08-0.10. Punters are hoping that it will put in a repeat performance by charging up to RM0.45 like in 2011, my guess is that it will disappoint many.

    ReplyDelete