Chart: BIMB & Takaful's daily chart as at May 2, 2012_9.30am (Source: Quickcharts)
Wednesday, May 02, 2012
BIMB broke above the psychological RM2.50 mark
On March 27, I've posted on the possible impact of Takaful's strong rally on its parent company, BIMB (here). BIMB's most recent rally was in June 2011 and that rally was preceded by a rally in Takaful in April. I opined that BIMB could repeat the same performance if it can break above its immediate resistance at the horizontal line at RM2.40. For the past one month, BIMB was trading above RM2.40 but below the RN2.50 level. On Monday, BIMB surged past the RM2.50 level. This could herald the beginning of the anticipated rally in BIMB. If BIMB can repeat the same percentage gain (of 50%) in June 2011, then the target for this rally could be RM3.75 (50% increase over the breakout level of RM2.50).
Chart: BIMB & Takaful's daily chart as at May 2, 2012_9.30am (Source: Quickcharts)
Chart: BIMB & Takaful's daily chart as at May 2, 2012_9.30am (Source: Quickcharts)
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2 comments:
Hi bro Alex. Please comment on GPRO. Cybert share price rise from 5sen to RM1.16. Will GPRO will hit RM1.00 also since both company control by same person Christian Kwok Leun Yau Heilesen.
Hope can heard ur reply asap. Thx.
Hi wong,
I have no idea what's happening to GPRO or CYBERT. The latter is a financially stricken company that is in the midst of some restructuring & yet its share price went thru the roof.
GPRO was a loss-making company. Recently, it has turnaround & it reported a small profit for FYE31/12/2011. Still, it is nothing to shout about. It has accumulated huge losses of RM31 mil. If you set-off this agianst its share capital of RM25 mil & share premium of RM17 mil, the shareholders' funds would be RM11 mil. This gives the company a NTA ps of 4.4 sen.
All these fine stuffs probably have no bearing if the stock were to be played up. Would they play it up? Who knows??
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