Price move up sharp this 2 months.its time for the price to do some correction soon.what going up must go down and going down must go up.dont chase blindly...
Highlights / Stock Picks of the Day Damansara Realty Bhd (DBHD) – Trading Sell----KENANGA TECHNICALS TODAY--MORNING REPORT
Amid weaker market sentiment on small cap stocks, DBHD dipped 15 sen (-7.98%) to close at RM1.73 yesterday. From a technical perspective, a bearish “Marubozu” candlestick has taken shape on the daily chart, indicating that selling pressure was particularly strong yesterday. Meanwhile, the MACD and its histogram continued to slide lower, nearly issuing a negative cross-over signal. Taken all these into consideration, we believe that further weakness is developing and the stock could be poised for a correction from the current overbought level. Hence, we suggest traders to take profit for now, and maybe look to buy back at a lower entry price of RM1.51 (coincides with the 30-day SMA support level). Outlook Bearish Key Resistance level RM1.89 (R1) RM2.05 (R2) RM2.20 (R3) Key Support level RM1.65 (S1) RM1.51 (S2) RM1.41 (S3) Strategy Trading Sell Current Price RM1.73
About the stock: Name : Damansara Realty Bhd Bursa Code : DBHD CAT Code : 3484 Market Cap : 535.2 52 Week High/Low : 2.05/0.27 3-m Avg. Daily Vol. : 5,034,967.0 Free Float (%) : 17.5% Beta vs. KLCI : 0.5 Amid weaker market sentiment on small cap stocks, DBHD dipped 15 sen (-7.98%) to close at RM1.73 yesterday. From a technical perspective, a bearish “Marubozu” candlestick has taken shape on the daily chart, indicating that selling pressure was particularly strong yesterday. Meanwhile, the MACD and its histogram continued to slide lower, nearly issuing a negative cross-over signal. Taken all these into consideration, we believe that further weakness is developing and the stock could be poised for a correction from the current overbought level. Hence, we suggest traders to take profit for now, and maybe look to buy back at a lower entry price of RM1.51 (coincides with the 30-day SMA support level).
Could be temporary breather........DBhd today's range 1.68-1.80....close @1.71......Support still intact.......Let's see how DBhd perform on Friday.....Could be moving north....
On the current date Damansara realty Position is Long - Buy based on Medium Term analysis and is Long - Strong Buy based on Long Term. Asset "Volatility Risk" is Medium and "Liquidity Risk" is Medium.
I being late starter seek opinion. Notice of mandatory offer out again today. Forum here still v gangho. I had profited but chicken out at 1.50 long ago (and regretted) but I still want to gain from dbhd. Still can play ?
PETALING JAYA: Well-connected Johor businessman Datuk Daing A Malek Daing A Rahaman has assumed control of Damansara Realty Bhd (DRealty) in accordance with a deal inked in February.
Stock market data showed that some 157.78 million shares, or a 51% stake, in DRealty had changed hands off-market at 50 sen each.
The share crossing has triggered a mandatory general offer (MGO) for the company at 50 sen a share.
This was a staggering 71% discount to its last traded price of RM1.71.
DRealty also said in a Bursa filing yesterday that it had completed the share sale agreement with Seaview Holdings Sdn Bhd, a vehicle equally owned by Daing and Abdul Aziz Daing Rahman, to acquire 51% of DRealty from state-backed Johor Corp (JCorp).
JCorp said in late February that it had received an offer from Seaview to buy a 51% block in DRealty, its property services arm.
DRealty was then trading at between 20 sen and 30 sen.
Given the huge gap between Seaview’s 50 sen offer and DRealty’s market price of RM1.71, it is unlikely that the MGO will be taken up by minority shareholders, leaving DRealty’s listing status intact.
Although the sale cuts JCorp’s 64.8% interest in DRealty to 13.8%, the group remains one of the latter’s major shareholders. It pocketed RM78.9mil from the exercise.
DRealty has interests in property development, facilities management services, car park operations and cleaning and hygiene services.
Daing Malek, believed to be a long-time friend of the Sultan of Johor and his father, is a member of the Council of the Royal Court of Advisers to the Sultan.
His emergence in DRealty could give a “royal boost” to DRealty, market observers say, which might explain why its shares have raced to a high of RM2.05 despite the 50 sen offer.
Already Daing Malek has expounded on plans to rejuvenate DRealty’s property and construction divisions and expressed interest in Iskandar Malaysia and Pengerang Integrated Petrochemical Complex-related projects.
He also plans to expand DRealty’s parking business under wholly-owned subsidiary Metro Parking Sdn Bhd in the Asean region.
Asset-rich but debt-laden JCorp has been hiving its non-core operations in recent years.
The companies in its stable include Sindora Bhd, Damansara Asset Sdn Bhd, Harta Consult Sdn Bhd and Kulim (M) Bhd.
Hi morning nicermannson, See how lol as i dont want to mislead people of my longkang analysis. Im a silent reader jaga own ctrs wiser than postings. Cheers.
CT. this counter cannot buy meh. TP 2.39 no problem lah if hold 6 months. RHB research also dare to say support @ 1.60/1.50 and resistant 1.75/2.00. what is your buy in support next week.
zu. luckily I not greedy bought 0.39/0.395 take profit 0.455/0.46 6 weeks ago. now every newspaper/IB talking about sell in may go away/ world cup; short term will dampen bursa trade. news article in star biz why penny stock crash and how world cup affect bursa.
Do NOT play contra with DBHD......medium to long term TP is 2.40.....Entry level...use your own judgement...wait for a strong support level....Long term risk...low....
On the current date Damansara realty Position is Long - Moderate Buy based on Medium Term analysis and is Long - Strong Buy based on Long Term. Asset "Volatility Risk" is Medium - High and "Liquidity Risk" is Medium. In the Medium Term, Possible begin of a bearish phase only if a reversal happen. In the Long Term, Possible exaustion of the bull cycle. The stock is still moving upwards but Its strenght is decreasing.
Nicermannson, u got to use the ulu bamboo that must b chanted with traditional mantra n my coconuts are good trend detector but i cant share ler! Kikiki.
Aiyoyo CT, sitting on plastic carpet... aiyoyo not stable while holding bamboo teropong... aiyoyo and worried that the coconuts may fall on my head... aiyoyo
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....
fortunebullz
2,000 posts
Posted by fortunebullz > 2014-04-29 01:36 | Report Abuse
So, please, everybody follow Optimus advise on Dbhd! I shall follow his advise closely in Dbhd from now on!