Chart 1: USD-MYR's daily chart as at Mar 7, 2016_4.05pm (Source: Investing.com)
Chart 2: USD-MYR's weekly chart as at Mar 2, 2016_3.45pm (Source: Investing.com)
Based on the above, we can expect more selling pressure on the rubber glove stocks as well as other export-oriented companies. My earlier speculative call for rubber glove stocks is no longer applicable.
4 comments:
Thank you Sir.
Mr Alex,
What's your take on CCK 7035.
EPS trending higher, low PE, but no liquidity.
Dear KL Tan
CCK is an integrated poultry, seafood & wholesale food retailing with retail & wholesale stores in Pen. Malaysia, Sabah & Sarawak as well as Indonesia.
Its revenue & profits has been rising steadily for the last 4 quarters. For FY2015, it reported a NP of RM14mil on a revenue of RM509mil. At RM1.16, it is now trading at a reasonable attractive PER of 13X.
Chartwise, it is rising in an upward channel. The resistance is at RM1.30 while the support is at RM0.80. Recently it tested the resistance and the stock is now correcting phase. Its immediate support is at RM1.00-1.10.
CCK is a good stock to invest in. Try to get in at a good price (say RM1.00) to enhance your return.
Hi Alex,
Thank you for your insightful comment.
Always glad to be reading your posts!
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