DRBHCOM- profit soared due to exceptional item

DRBHCOM announced its results for QE31/3/2012. Its net profit soared from RM72 million in QE31/3/2011 to RM1.018 billion in QE31/3/2012 due to recognition of negative goodwill of RM972 million (arising from its acquisition of Proton). Its turnover inched up to RM2.3124 billion from RM1.998 billion previously. For more, go here.

Chartwise, DRBHCOM is in a long-term uptrend line, with support at RM2.30 (see Chart 1). If it can break above its medium-term downtrend line, RR at RM2.50, the stock may continue its uptrend (see Chart 2).


Chart 1: DRBHCOM's weekly chart as at May 29, 2012 (Source: Tradesignum)


Chart 2: DRBHCOM's daily chart as at May 29, 2012 (Source: Tradesignum)