Thursday, June 14, 2012

Penergy may have a bullish breakout

Penergy broke above its strong horizontal resistance at RM1.25 early this morning. The stock had earlier broken above its intermediate downtrend line at RM1.15 in late April. Its next resistance would be the horizontal line at RM1.45.


Chart: Penergy's daily chart as at June 14, 2012_9.30am (Source: Quickcharts)

For QE31/3/2012, Penergy reported a net profit of RM7.2 million on a revenue of RM131 million. Based on annualized EPS of 13.4 sen & present price of RM1.34, Penergy is trading at a PE of 10 times.

Based on technical consideration, Penergy could be a good trading BUY. You may buy when the share price eased back to the RM1.25-1.30 level.
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5 comments:

  1. InvestorThursday, June 14, 2012 6:13:00 PM

    //off topic
    Hey Alex, heard your interview on BFM89.9 yesterday. Great job there! Do u interview for BFM every now and then?

    ReplyDelete
  2. Andy LauThursday, June 14, 2012 7:55:00 PM

    Hi Alex

    What is your advise buy or don't buy zhulian at this period of eurozone crisis ?

    ReplyDelete
  3. Andy LauFriday, June 15, 2012 1:52:00 AM

    Hi alex,

    How u c Perdana ?

    TQ

    ReplyDelete
  4. Alex LuMonday, June 18, 2012 3:30:00 PM

    Hi Andy Lau

    Perdana broke above its downtrend line at RM0.54 as well as the horizontal line at RM0.55. It is now testing horizontal line at RM0.65. I think it could be a trading BUY on pullback to RM0.55-0.60.

    Zhulian is still trying to break above the RM2.00 mark. If it can do so, it may rally. Its PE is quite attractive at 8 times.

    ReplyDelete
  5. Alex LuMonday, June 18, 2012 3:33:00 PM

    Hi Investor

    Yes, I had been interviewed by BFM89.9 on its Market Watch program on a few occasions. It is a good experience but I am worried that I might slip up & say something bad. So far, so good. Thanks to my Toastmasters training.

    ReplyDelete