Chart: Taliwork's weekly chart as at Mar 8, 2017_12.00pm
Based on technical breakout, Taliwrk could be a good trading BUY.
Note:
I hereby confirm that I do not have any direct interest in the security or securities mentioned in this post. However, I could have an indirect interest in the security or securities mentioned as some of my clients may have an interest in the acquisition or disposal of the aforementioned security or securities. As investor, you should fully research any security before making an investment decision.
2 comments:
hi Alex,
Good day!
Can you comment on MSC current price of RM3.61 and the financial result?
Pls advice.
regards,
heng
Hi heng,
For QE31/12/2016, MSC's net profit dropped 68% q-o-q to RM5.5 million while revenue rose 8% to RM350 million. For FY2016, MSC reported a net profit of RM37.5 million from a net loss of RM4.8 million last year.
MSC's performance tracks the movement in tin price. You can see from tin futures dropped in last month. This has caused tin futures to break its uptrend line support at USD21100 a tonne. Tin futures managed to find support at the horizontal line at USD19000. (For the chart, go to https://invst.ly/3emlg)
MSC broke its uptrend line at RM4.00 in late January. It moved sideways in a descending triangle for a while. In late February, it broke below the lower line of the triangle at RM3.90 and settled now at RM3.60. (For the chart, go to https://www.tradingview.com/x/7ZvnyFzS)
MSC's financial & share price performance depend on the movement of tin prices. For now, tin prices or futures look bearish. It is advisable to REDUCE YOUR POSITION in this stock.
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