Friday, December 06, 2013

Hibiscus may have a bullish breakout

Hibiscus has just broken above its 'horizontal' line at RM2.14-2.15. At the same time, Hibiscus-WA broke above to the upside of its triangle at RM1.57. With these twin breakouts, this stock could be entering into an upleg. (As at 3:00pm, Hibiscus & Hibiscus-WA are trading at RM2.18 & RM1.64.)

Based on technical breakout, Hibiscus & its warrant could be a trading BUY.

 Chart 1: Hibiscus's daily chart as at Dec 5, 2013 (Source: Tradesignum)

Chart 2: Hibiscus-WA's daily chart as at Dec 5, 2013 (Source: Tradesignum)

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, Hibiscus.


鸿股顺势 said...

hi alex-can your comment on both of the share insas & pantech

Alex Lu said...

Hi hs liu

My take on:

1. insas had a bullish breakout of its long-term downtrend line at RM0.48 in May this year. Since then, it had a steady rally, which went into overdrive in the first 2 weeks of November when it shot from RM0.65 to RM0.95. It probably needs to consolidate its gain before the next price movement reveals itself.

2. pantech is still in a 3-fan uptrend. The 2nd fan uptrend line support at RM0.95 while the 3rd fan uptrend lien support at RM0.80.

Pantech-WA is still in a triangle with support at RM0.50 & resistance at RM0.62.

Between the two, Pantech maybe a safer stock to speculate or invest in.

johnny said...

Hi Alex

Good Day .

Would like to know what you think about Dialog 7277 , do you think is time for profit taking . Thanks and appreciate it .

Alex Lu said...

Hi johnny

Dialog and Dialog-WA have a breakout. For Dialog, the breakout is above the inverted Head-and-shoulder at RM3.15-3.17. It may go to RM3.60-3.70.

Dialog-WA broke above its high chalked up during the first week of listing i.e. at RM0.90.

Thus the stock and warrant are fairly bullish. However the valuation is fairly demanding- with PE at 30-40 times.