Friday, November 30, 2012

Orient- uptrend to continue

Orient closed at the horizontal/psychological resistance of RM8.00 yesterday. This morning, it broke above its recent high at RM8.10. See Chart 1. These double breakouts signals the continuation of its uptrend, with a potential target of RM9.50-10.00.

Based on  technical consideration, Orient could be a trading BUY.


Chart 1: Orient's daily chart as at Nov 30, 2012_12.10pm (Source: Quickcharts)


Chart 2: Orient's monthly chart as at Nov 30, 2012_12.10pm (Source: Quickcharts)

Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, Orient.
at

5 comments:

  1. AnonymousFriday, November 30, 2012 1:13:00 PM

    hi alex -i went in at 783 on tuesday after tracking since your last blogging.today is T3.my target is 900.any advice?

    ReplyDelete
  2. AnonymousFriday, November 30, 2012 1:16:00 PM

    Hi alex.I went in on spsetia at 305 on wednesday.any TP on this counter?

    ReplyDelete
  3. luckystock2Friday, November 30, 2012 2:19:00 PM

    Hi Alex,
    Can your comment a bit on its fundamental also.
    Tx!

    ReplyDelete
  4. Alex LuMonday, December 03, 2012 5:00:00 PM

    Hi charles leong

    You did well on Orient & SPSetia. Good luck.

    ReplyDelete
  5. Alex LuMonday, December 03, 2012 5:02:00 PM

    Hi luckystock2

    Orient's PE is at rather high at 19 times. However, there may be a reason for the breakout, which we do not know about. Sometime fundamental & technical analysis diverge and we have to make a judgment call.

    ReplyDelete