Friday, April 24, 2015

Tuneins: Tested the horizontal support at RM1.80

Tuneins tested its strong horizontal support at RM1.80 over the past 5 days. It went below that support to a low of RM1.77 yesterday & the day before that. Today, it climbed back above the RM1.80 mark. As at 4.35pm, it was trading at RM1.85.

Based on the above observation, I believe Tuneins support at the RM1.80 horizontal line is good. It could begin to recover from here.


Chart: Tuneins's weekly chart as at April 24, 2015_4.00pm (Source: Share Investors)

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, Tuneins.


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6 comments:

  1. UnknownFriday, April 24, 2015 9:08:00 PM

    Hi Alex,
    What do you of Insas based on the latest chart pattern?
    Thx.

    ReplyDelete
  2. KsSunday, April 26, 2015 5:15:00 PM

    Hi Alex, do you know any klse company which is associated with solar energy business?

    ReplyDelete
  3. Alex LuTuesday, April 28, 2015 5:13:00 PM

    Hi Ming Hoong Law

    Insas is in an intermediate downtrend with resistance at RM1.05. It should have support at the horizontal line RM0.90.

    If Insas can break above the RM1.05 mark, it may revisit its recent high at RM1.30.

    ReplyDelete
  4. Alex LuTuesday, April 28, 2015 5:28:00 PM

    Hi Ks,

    There is an article in the Edge Weekly on solar power. It mentioned 3 companies in this business: VSolar, PUC & Cypark.

    Cypark is the big brother in this business. It is a profitable company with a rolling PER is 9X.

    PUC is also a profitable company with a rolling PER of 16X.

    VSolar is a loss-making company that is hoping to get into this business.

    I think the safe bet is Cypark. At the current price, it may be worth considering.

    ReplyDelete
  5. KsTuesday, April 28, 2015 10:56:00 PM

    someone recommended tekseng to me, any comments.

    ReplyDelete
  6. Alex LuWednesday, April 29, 2015 3:30:00 PM

    Hi Ks

    Tekseng had a nice rally from the low of RM0.50 in March to a recent high of RM0.63. The current correction has taken out a lot from this stock. That's good. However, the momentum is pretty much gone. That's not good. It may drift for a while...

    Please check the fundamentals before buying.

    ReplyDelete