Timecom broke above the horizontal line at RM4.70 earlier today. In the afternoon, it tested its long-term downtrend line at RM4.75-4.80- even hitting a high of RM4.85. It will be interesting to see whether Timecom can surpass the downtrend line - be it today or tomorrow. The indicators have turned upward and the chance of a successful breakout is good. Timecom's next resistance would be at the horizontal line at RM5.60 & then at RM7.00.
Chart 2: Timecom's weekly chart as at May 22, 2013_4.00pm (Source: quickcharts)
Conclusion
Based on potential bullish technical outlook, Timecom coudl be a good stock for trading BUY or for
long-term investment.
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, Timecom.
2 comments:
Timecom strong share performance are most probably due to upcoming DIGI share dividend, which already secure shareholder approval on llast 20 May EGM. These share dividend will be likely to be declare very soon.
The entitlement is base on 0.24 DIGI share for every 1 Timecom share holding. These give rise to as much as RM 1.14 (DIGI share RM 4.66) payout return for every RM 4.79 invested in Timecom or total return of investment of more than 23%.
those people who buy since last time must earn a lot $$ from this stock~ >.<
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