For the past two weeks or so, prices failed to break and close above the immediate resistance at RM1.22. Yesterday’s black marubozu candle could drag prices lower from here as prices move into correction mode.
MACD has turned downwards slightly while RSI sported a negative divergence.
Traders should sell now with a buy stop above RM1.22. A fall below RM1.13 should see prices retest RM1.02 and/or RM0.955 next.
It is a very good fundamental company, I found it and purchase in since Yr 2011, tat time at 0.86 (b4 bonus issue1 for every existing 3 shares), tat time the market is quite calm until last year April. I just sold it few days ago at 1.22, bcuz i anticipate tat's the top limit of this counter. My opinion is, good counter but right now is not a good enter price. If price fall back to below 0.85, WITH THE PROFIT MAINTAIN OF GROWTH, only i wil consider. Tats my lil opinion, cheers :)
hmmm, actually my point of view, if sold partly, den i will take the money and reinvest in other potential counter, partly remain and "bet" whether can enjoy more profit. In technical trading style sell at high price and buy in again during retracement i think shld do it earlier. Somehow that's not my trading style, i seldom "chase" the uptrend price, i would rather choose the gud fundamental undervalue stock and chasing low, buffer and wait :) when price shoot up, i only make decision :)
Can't agree more with you, Cykairy! Rm1.20 is more or less the ceiling price for this counter for the time being unless the next quarter report would have more surprise such as bigger EPS or ROE, or else i think is would quite hard to move further upward. I am thinking to cash out also...
tkg8, ya tats true, i will consider re-purchase if its EPS n ROE come with bigger surprise, sumhow, i don't think a "real healthy" company will come with big surprise in its profit in only a short quarter, my investment style is always be prudent while the market is bulling:)
Hi aunloke, it been a long time since last heard from you. No news at all from YOCB. I was holding it all this while. I like its Home Harmony concept and decided to stay with it but if price run up too much because of TAKE OVER news, I might EXIT with a smile.
Well good for us who have faith in YOCB anyway if being taken over and the offer is good then we might as well exit and start looking for another potential .
Hi aunloke, I am still holding on to a lot of YOCB.
No question that YOCB had a bad final quarter in term of profit but the FY2014 profit is only 2% lower than FY2013. The final dividend remains at 2 sens, making a total of 4 sens for the year. The revenue increased by 31.9% at the expense of 55.9% contraction in profit. Although the management blame it on higher operating cost, I am not sure of the wisdom of this approach. My main worry is the deterioration of earning although the management is confident of a satisfactory growth with plans and strategies already in place to weather these challenging times.
Hi Dan I have reduced my holding of YOCB. I feel that it will take some time for it to move further and I don't want to leave too much of my money there without generating any gain, besides, for long term the market may face a strong correction if not a crash.
Hi Dan market has moved up a lot and it's hard to find my ideal counters any more, at the moment I'm watching Amprop, Fitters and KSL trying to get good timing to sell and NOT to buy. The only counter I add on recently is Huayang, it's not as good as before but capable of giving 15% may be in about 6 months' time . You see I have to lower my expected profit in this time frame no more looking for mult-baggers like the above three counters bought more than a year before.
Thanks, aunloke. I will soon take a break from the market. I have been searching but not finding anything to my liking as well, I am happy to close the year now as a winner.
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....
KIMI06
206 posts
Posted by KIMI06 > 2014-03-21 11:57 | Report Abuse
MOVING FAST.....