Digistar Corporation Bhd ('Digista') is involved in the provision of design, supply, installation and integration of information technology infrastructure, tele-conferencing, local area networks, interactive media management systems, radio and television news automation, telecommunication systems, integrated audio and visual systems and other related electronic systems.
Since making a high of RM0.56 in February 2012. Digista has been trending lower. It broke above its downtrend line, RR at RM0.24 in May 2013. Since that breakout, it has been range-bound between RM0.26 & RM0.32. This morning, it broke above the RM0.32. With this breakout, Digista may commence its uptrend.
Based on the bullish breakout, Digista could be a trading BUY. Its next resistance is at RM0.40 and thereafter at RM0.45.
Chart 1: Digista's daily chart as at Sep 23, 2013_2.50pm (Source: Quickcharts)
Chart 2: Digista's monthly chart as at Sep 23, 2013_11.00am (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, Digista.
7 comments:
will up to how much ?
Hi Alex
Please look at YTLP, today closed at RM 1.81, i think with YTLP aggressive buyback, is it about breakout soon ?
Hi Alex
The discount gap between YTLP and WB is getting even widen now. However so far, not many have opt for warrant conversion. This could be due to despite YTLP-WB perform less in turn of absolute amount and is at discount now, but in turn of % gain, it still outperform its mum share. Therefore, don't it have additional benefit if opt for conversion, by paying RM 1.21, instead should have more edge if use that amount to buy more WB, after all, WB still have 5 year tenure of life
I think YTLP aggressive buyback have attract market attention now, more fund are willing to capitalize on uptrend stock. If these fund especially EPF know that if they keep selling, it just transferring more share to YTLP share buyback and never ever they can buyback later on weakness as these buyback share will keep in its treasury stock and later could opt for second round of cancellation.
These fund must now known that its one way direction, only have accumulation but not distribution back. EPF and those keen seller will need to think twice before selling more YTLP share into market.
However, in stock market, there is endless possibility, like expected privatization call-off; stop share buyback etc....Nevertheless, the key still lying on upcoming YTLP Q1 result to be release in Nov.
With completed 1BestriNet now, turnaround in Yes Wimax can be expected soon + strengthen in UK pound (Wesses Water)/Aussie dollar (ElectroNet)/Sing dollar (Power Seraya)/US dollar (PT Jawa), should record highest EPF in Q1 result. I expect YTLP to record 5sen EPS in Q1, and annualized 20sen, share price trading at PE 10x should offer fundamental support for YTLP to trade above RM 2.00
Hi Alex,
Can you comment on CENSOF?
Thanks for the previous post on BJFOOD.
Hi Jim
CENSOF had a great price run-up in the past 4-5 weeks; from RM0.35 to RM0.55. However, it is moving within an irregular downward channel, with RM0.53-0.54 as the resistance. Since it failed to crack the upside of the channel, it may pullback into the channel. Immediate support at RM0.46-0.48 and then at RM0.40.
It bought into Time Engineering. I am not sure what it can do with that investment.
Hi Hng,
Thanks for the detailed update on YTLPower. Let's see how the financial performance will be in the next few quarters.
Thanks.
Hi kheng862000
The Digista play did not pan out as expected. If it had stayed above the RM0.32, its next resistance would be RM0.35 and then RM0.45.
Let's wait & see whether the stock can rebound back up to RM0.32.
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