Monday, May 18, 2015

GLBhd: Upside Breakout

Golden Land Bhe ("GLBhd", formerly Tanah Emas Corporation Bhd) has broken above the line connecting its recent peaks, RR at RM1.35 last Friday. With this bullish breakout, the stock may rise to its potential target price of RM1.75.

Based on technical breakout, GLBhd could be a trading BUY.


Chart: GLBhd's monthly chart as at May 15, 2015 (Source: ShareInvestor.com)

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, GLBhd.
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3 comments:

  1. laiMonday, May 18, 2015 6:14:00 PM

    Hi Alex,

    Gadang is looking ripe for some serious action.

    May i have your view pls.

    Thanks

    ReplyDelete
  2. Alex LuTuesday, May 19, 2015 11:59:00 AM

    Hi lai,

    Gadang is poised for an upside move. It has already surpassed the horizontal line RM1.60. If it can gather more buying support, it may revisit the high at RM1.90.

    In fact, we have seen construction and property stocks (especially for companies with affordable housing component) are beginning to enjoy upticks in their prices. This could be due to strong demand for housing that was only partially checked by credit & tax measures over the past 2-3 years. Once these restrictions are lifted, my concern is that house prices would surge again. How would the lower income-earners ever hope to own a decent home?!

    ReplyDelete
  3. UnknownWednesday, June 03, 2015 10:20:00 AM

    Hi Alex,
    Good morning.

    Your assessment on GLBhd was very true and accurate with the counter hitting the target price of RM1.75 today (3-June-2015).

    Well done.

    Regards,
    Sarabjeet
    (sarabjeet3338@gmail.com)

    ReplyDelete