Thursday, January 17, 2013

UEMLand- poised to rally?

UEMLand broke above its intermediate downtrend line, RR at RM1.95 in late October last year. It made a high of RM2.30 before consolidating for the past 2 months. Today, UEMLand broke above the RM2.30 mark; thus signaling the continuation of its uptrend.

Based on this, UEMLand could be a good trading BUY. UEMLand - and other property stocks with large land bank in Johore (such as Tebrau) - is  benefiting from the demand from across the Causeway.


Chart 1: UEMLand's daily chart as at Jan 17, 2013_11.45am (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, UEMLand.
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9 comments:

  1. AnonymousThursday, January 17, 2013 3:54:00 PM

    Hi Alex

    Can you comment on MK Land? Its have manage to recoup earning growth and have declare 1 sen dividend. With valuable landbank in Damasara Perdana, earning improvement and stronger balance sheet, Will MK land deserve to re-rating, what is a fair value and support/resistance level?

    ReplyDelete
  2. AnonymousThursday, January 17, 2013 9:55:00 PM

    hi alex- I am tracking Kuchai Dev. for the past month but I dont have much info on this counter.Could I request you to do a writeup comment on kuchai? Thank you and regards-charles leong

    ReplyDelete
  3. laiFriday, January 18, 2013 2:28:00 PM

    Charles,

    Value trap - Stay away lah..

    ReplyDelete
  4. CrabGrillSunday, January 20, 2013 10:32:00 PM

    Would you please do a technical analysis for HDBS? Thanks.

    ReplyDelete
  5. AnonymousMonday, January 21, 2013 6:48:00 AM

    nice website,, i just visit at this morning ,, :)

    ReplyDelete
  6. Alex LuFriday, January 25, 2013 5:02:00 PM

    Hi Hng,

    Logically, MKLand should do much better than what it is doing today. Sadly, it is still drifting and I think it would probably continue that way for a while. Some companies are set in their own ways of doing things and cannot change.

    ReplyDelete
  7. Alex LuFriday, January 25, 2013 5:05:00 PM

    Hi charles leong

    You may have spotted something- Kuchai Dev. It may have broken above the horizontal resistance of RM1.10, the trigger for an upside rally. It could be tradable. Please exercise careful discretion...

    ReplyDelete
  8. Alex LuFriday, January 25, 2013 5:05:00 PM

    Hi Lai,

    Thanks...

    ReplyDelete
  9. Alex LuFriday, January 25, 2013 5:10:00 PM

    Hi CrabGrill,

    HDBS is approaching its 2007 high of RM3.50. If it can surpass that mark, it may test its next few resistance levels- RM4.00, RM5.00 & RM6.00. Can it do it??

    I take comfort in seeing that there have been a number of takeover or buyout of investment banks lately- ECM by Kenanga, OSK by RHBCap, HLCap by HLFG. This trend could work in HDBS's favor. Temasek could get AFG to buy out HDBS! Let's wait & see.

    ReplyDelete