POS broke above its strong horizontal resistance at RM3.25. From the charts below, you can see that this is the recent high as well as the all-time high. This could be the beginning a strong rally that could potentially hit RM4.00.
Based on technical consideration, POS could be a good trading BUY.
Chart 1: POS's daily chart as at Dec 12, 2012_10.15am (Source: Quickcharts)
Chart 2: POS's monthly chart as at Dec 12, 2012_10.15am (Source: Quickcharts)
Recent Financial Results (updated)
For QE30/9/2012, POS's net profit dropped 17% q-o-q but rose 12% y-o-y to RM30.4 million while revenue dropped 3.5% q-o-q but rose 2.7% y-o-y to RM300 million.
Table: POS's last 8 quarterly results
Chart 3: POS's last 28 quarterly results
Valuation (updated)
Based on current price of RM3.34, POS is trading at a PE of 15 times (based on last 4 quarters' EPS of 22.19 sen). At this PE, POS is deemed fully valued.
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, POS.
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