MMS Ventures (MMSV MK) • Technical BUY with +18.2% potential return • Last price : RM0.385 • Target Price : RM0.420, RM0.455 • Support : RM0.360 • Stop-loss: RM0.355
BUY with a target price of RM0.455 with stoploss below RM0.355. Following our earlier BUY call on 27 Jun 14 at the price of RM0.250, MMSV has surged past our initial target of RM0.300. Given the strong uptrend, we did not see any opening for investors to add to their positions until a retracement from the recent high of RM0.420 created a chance to BUY more on dips. MMSV established a new support at RM0.360 and rebounded gradually before yesterday’s gap-up on the back of a higher trading volume indicated the creation of a new up-leg. Additionally, a bullish reversal “signal” in the form of “hidden divergence” between the share price and Stochastic should add more conviction to our bullish bias. Moving forward, we expect upward continuation as we peg our upside target at the 1.38x Fibonacci Extension target of RM0.455.
If one can hold, in fact its good to take position now while its still cheap. Once its Quarterly results start improving, it will cost more to acquire. Reading the AR, I get the idea that the new direction of focusing the business more on the LED sector is a good move and possibly be very rewarding for the company and its shareholders. Do you guys agree?
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Firebird2
1,730 posts
Posted by Firebird2 > 2014-08-07 15:07 | Report Abuse
All right ..... let the show begins..