Chart 1: RHBCap's daily chart as at Jan 3, 2013_12.15pm (Source: Quickcharts)
The longer-term chart for RHBCap is bullish. The stock, which had been consolidating for the past 18 months, could continue with its prior uptrend. It may test its all-time high at RM10.50 or even the upper boundary of its irregular upward channel at RM13.00.
Chart 2: RHBCap's monthly chart as at Jan 2, 2013 (Source: Tradesignum)
RHBCap (at RM7.78) is now trading at a PE of 9.4 times (based on annualized EPS of 83 sen) or 1.35 times its book value (of RM5.76 as at 30/9/2012). At this multiples, RHBCap is deemed attractive. For more on its latest quarterly results, go here.
Based on technical consideration, RHBCap could be a trading BUY.
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, RHBCap.
1 comment:
Hi Alex, with index hitting all time high, why is Bursa not follow as well? It's been at 6 for quite some period of time... HKEX in HK has risen from 100 to 148HKD tracking the HK index, however, it's different story for bursa.
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