Based on the above, Oldtown could be a trading BUY.
Chart: Oldtown's weekly chart as at Dec 27, 2012_12.00pm (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, Oldtown.
7 comments:
Hi Alex,
How do you see the privatise news of YTLPower?
Is share swap a bad idea for minority shareholder of YTLPower?
Thanks,
Hello,
Genting singapore consider breakup as well?
hi alex-TQ for highlighting old town.thinking of going in again.got out at 202 the other day.could you please spare some time on ccm?Its so tempting.
Hi Alex,
I am following your blogging years, appreciated you covering on these stock and commending a thoughtful analysis. How about the performance of RSAWIT? It indicating a consolidate sign of pattern, how to turnaround, as my accumulation on 0.96, can I Accumulate further on these situation?
Hi uminaire10
The story of the privatization of YTLPower is plausible & definitely in the interest of YTLCorp. The only thing I find uncomfortable is that it is so well-publicized. It was reportedly suggested by Francis Yeoh that the group plans to privatize a few of its subsidiaries- starting with YTLCement. Would it be more sensible to just do it than talk about it?
Nevertheless, at RM1.60 level, YTLPower is fairly cheap & it is also hanging onto its strong horizontal support (at RM1.50-1.60).
Hi Tay Sz
Thank you for the comment & your visit.
RSAWIT is still in a medium-term downtrend. Its downtrend line resistance is at RM0.90-0.92. Until it achieved a breakout, I think it is better to sell when it test the resistance.
Hi Ivan
Genting Singapore has not yet broken above its downtrend line, where the resistance is at S$1.40-1.41.
Genting HK is also very near the downtrend line resistance at S$0.36-0.37.
Let's wait & see......
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