Hevea is involved in the manufacture, sales and distribution of particleboard and other related products. Its financial performance has improved in the past few quarters after the bouncy ride in 2012 & 2011. Assuming a full-year earning of 16 sen, Hevea (at RM0.85 now) is now trading at a PE of 5.3 times. At that PE, I would rate the stock as nearly full-valued.
Table: Hevea's last 8 quarterly results
Chart 1: Hevea's last 23 quarterly results
Today, the stock broke above its horizontal line RM0.85. The indicators have just started to turn up. If the stock can stay above the horizontal line RM0.85, it may recruit more buying interest and makes a dash to the next resistance at the horizontal line RM1.10.
Chart 2: Hevea's weekly chart as at Nov 6, 2013_10.30am (Source: Quickcharts)
Based on the technical breakout, Hevea 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, Hevea.
Looks good...
ReplyDeleteOh by the way, I dont know if you made those charts in excel, I like.
Hi Finance,
ReplyDeleteI prepared the charts in excel. If you keep a series of quarterly results, the charts are quite easy to create.