Monday, March 04, 2013

MBSB- uptrend to continue

MBSB broke above its horizontal resistance at RM2.48 today. With this upside breakout, the stock may continue its uptrend. Its next target could be RM2.75-2.80.

As such, MBSB could be a good trading BUY.


Chart: MBSB's daily chart as at March 4, 2013_12.15pm (Source: quickcharts)

For more on MBSB, go here.

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, MBSB.
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2 comments:

  1. laiMonday, March 04, 2013 4:40:00 PM

    hi alex,

    can u give some comment on TAS offshore? it seems like going nowhere after hitting its 52 week high sometimes ago?

    thanks.

    ReplyDelete
  2. Alex LuTuesday, March 05, 2013 4:10:00 PM

    Hi Tai,

    TAS Offshore has been a disappointing trade. Its financial performance was quite satisfactory, with net profit of RM5 million on revenue of RM48 million for 1H2013 (see link below). That translates to a full-year EPS of 5.8 sen. At present price of 36 sen, it is trading at a PE of 6.2 times.

    Chartwise, it is likely to drift to its support at 33-35 sen before we can expect a decent rebound.

    http://www.bursamalaysia.com/market/listed-companies/company-announcements/1182181

    ReplyDelete