TAS Offshore Bhd (TAS) – Not Rated --------KENANGA TECHNICALS---25/04/14 Yesterday, TAS rose 10 sen (+7.35%) to RM1.46 on solid earnings report. Its 3Q14 net profit doubled YoY on the back of higher revenue on the completion and delivery of several vessels. From a technical perspective, TAS has been trapped in an uptrend channel in the range of RM1.00 to RM1.40 for the past 6 months. Yesterday’s bullish move has caused a breakout from channel resistance at RM1.44, hinting that the share is poised to enter into another round of rally. Technical indicators such as Stochastic and MACD showed that bullish momentum is picking up. We expect follow-through buying to appear, lifting the share price towards RM1.74. Outlook Bullish Key Resistance level RM1.57(R1) RM1.67 (R2) RM1.77 (R3) Key Support level RM1.44(S1) RM1.25 (S2) RM1.17 (S3) Strategy Not Rated Current Price RM1.00
TAS Offshore (TOB MK) Technical BUY with +14.3% potential return Last price : RM1.40 Target Price : RM1.49, RM1.60 Support : RM1.32 Stop-loss: RM1.31 BUY with a target price of RM1.60 with stop loss placed below RM1.31. TOB’s share price rebounded from the immediate support of RM1.32 after retracing from the high of RM1.49. TOB has rebounded off the “cloud” following yesterday’s successful breakout above the short-term downtrendline in tandem with a surge in momentum. With the MACD approaching the zero line, we expect a positive reaction hereafter, thus kick-starting the creation of a new up-leg. Moving forward, the share price should be ready to resume its longterm uptrend run as we peg our medium-term target at the 1.61x Fibonacci extension level of RM1.60.
next dividend be in Nov 2014. Company share buy back at 1.36 shows it is undervalued. If i am not wrong, its intrinsic value is around 2.00/share. Good to add.
TAS Offshore (TOB MK)-----------------------dated 25/6 Technical BUY with +15.9% potential return Last price : RM1.51 Target Price : RM1.63, RM1.75 Support : RM1.03 Stop-loss: RM1.01 BUY with a target price of RM1.75 with stop loss at below RM1.38. Given our earlier BUY call on 10 Jun 14 at the price of RM1.40, TOB’s share price has been climbing higher and forming a series of higher highs and higher lows in the past 11 days. Following yesterday's breakout on the back of a higher trading volume, TOB has surged past our initial target of RM1.49. As +DI rising above ADX line indicates a potentially stronger uptrend ahead, the improving momentum as shown by the bullish crossover in MACD may drive the share price higher. Moving forward, we peg our medium-term target at the 1.38x Fibonacci projection target of RM1.75.
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johnny cash
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Posted by johnny cash > 2014-04-25 13:06 | Report Abuse
TAS Offshore Bhd (TAS) – Not Rated --------KENANGA TECHNICALS---25/04/14
Yesterday, TAS rose 10 sen (+7.35%) to RM1.46 on solid earnings report. Its 3Q14
net profit doubled YoY on the back of higher revenue on the completion and
delivery of several vessels. From a technical perspective, TAS has been trapped in
an uptrend channel in the range of RM1.00 to RM1.40 for the past 6 months.
Yesterday’s bullish move has caused a breakout from channel resistance at
RM1.44, hinting that the share is poised to enter into another round of rally.
Technical indicators such as Stochastic and MACD showed that bullish momentum
is picking up. We expect follow-through buying to appear, lifting the share price
towards RM1.74.
Outlook Bullish
Key Resistance level RM1.57(R1) RM1.67 (R2) RM1.77 (R3)
Key Support level RM1.44(S1) RM1.25 (S2) RM1.17 (S3)
Strategy Not Rated Current Price RM1.00