Just in time for our Duit Raya. To those who followed this counter for the past 3 weeks, congratulations. First TP of 1.20 is vey near. Anyway have a great weekend & enjoy the show next week.
Silk Holdings (SIB MK) Technical BUY with +20.0% potential return Last price : RM1.10 Target Price : RM1.20, RM1.32 Support : RM1.00 Stop-loss: RM0.99 BUY with a target price of RM1.32 with stoploss below RM0.99. SIB’s share price has been rising along the upward sloping 10-day and 21-day SMA lines since 9 May 14. Following a successful breakout above the psychological level of RM1.00, SIB hit a new high at RM1.15 before yesterday’s profit-taking activity pulled down the share price slightly. However, we expect upward continuation from here onwards as yesterday’s blip can be considered a normal “return move” after the previous day’s breakout. Given the positive MACD and Stochastic readings, the surge in momentum should help to lift the share price higher in the near term. We peg our upside target at the 1.38x Fibonacci extension level of RM1.32. Expected Timeframe: 2 weeks to 2 months
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....
Azli
1,082 posts
Posted by Azli > 2014-07-11 07:17 | Report Abuse
Silk will.fly today. Next to is 1.20, then 1.50 before it goes to rm2.0