Friday, May 11, 2012

Shang may have bullish breakout


Shangri-la Hotels (M) Bhd ('Shang') broke above its strong resistance at RM3.00 yesterday. Its next resistance is at RM3.60. Based on this technical breakout, Shang could be a good trading BUY.


Chart: Shang's monthly chart as at May 10, 2012 (Source: Tradesignum)

Shang reported a net profit of RM61 million on revenue of RM430 for FYE31/12/2011. This gives the company a full-year EPS of 13.76 sen. At the current price of RM3.07, Shang is trading a ta PE of  22 times. For more, go here.
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6 comments:

  1. luckystock2Friday, May 11, 2012 5:17:00 PM

    Hi Alex ,
    Don't you think PE 22 is a bit too expensive for this stock?
    Thank you !

    ReplyDelete
  2. Bn911Friday, May 11, 2012 8:20:00 PM

    Hi Alex, may i get ur opinion regarding wilmar singapore, is it time to enter around $4? Thx a lot.

    ReplyDelete
  3. steSunday, May 13, 2012 9:51:00 AM

    Hi Alex, can you please comment on MYeg. this counter seems to be drifting lower and lower despite good business model and profits quarterly. Is this stock a long term investment hold?thanks
    ste

    ReplyDelete
  4. Alex LuTuesday, May 15, 2012 1:53:00 PM

    Hi luckystock2

    PE of 22 is expensive. However, that is historical or trailing. Going forward, things may change, who knows?

    ReplyDelete
  5. Alex LuTuesday, May 15, 2012 1:57:00 PM

    Hi Benson

    Wilmar singapore, could be a good entry at around $4. That's based on technical analysis, the stock has a good horizontal support at RM4.00 as well as moving in a downward channel, with support again at RM4.00.

    You should also look at the fundamental side & come to a more informed decision on this stock.

    ReplyDelete
  6. Alex LuTuesday, May 15, 2012 1:59:00 PM

    Hi ste sa

    MYeg broke the horizontal support at RM0.65 & would soon test the RM0.58-0.60 support. That's a strong support which would represent an excellent entry into this stock.

    ReplyDelete