ECS ICT (ECS MK) Technical BUY with +12.5% potential return Last price : RM1.36 Target Price : RM1.42, RM1.53 Support : RM1.31 Stop-loss: RM1.28 BUY with a target price of RM1.53 with stop loss placed below RM1.28. ECS has been trading below short-term trendlines in the past 6 weeks after retracing from the recent high of RM1.42. However, yesterday’s gap-up on the back of a much higher trading volume of 0.99m shares (vs 20-day average of 0.14m) signifies the end of the recent correction and potentially the start of a new up-leg. This is consistent with improving momentum as shown by positive readings in both MACD and Stochastic as the ECS pushed through the “cloud’, suggesting upward continuation hereafter. We expect the long-term uptrend to resume as we peg our upside target at the 1.61x Fibonacci extension target of RM1.53 over the short to medium term.
ECS ICT (ECS MK) Technical BUY with +14.4% potential return Last price : RM1.53 Target Price : RM1.65, RM1.75 Support : RM1.43 Stop-loss: RM1.42 BUY with a target price of RM1.75 with stoploss at below RM1.42. Following our BUY call on 10 Jun 14 at the price of RM1.36, ECS’s share price hit our target of RM1.53 yesterday. However, given yesterday’s genuine breakout on the back of a higher volume of 1.4m shares (vs 20-day average of 0.4m), we expect upward continuation from here onwards as we revise our target price. Positive readings in both MACD and Stochastic indicate growing momentum, which should boost share price. Moving forward, ECS is likely to remain in an uptrend as we peg our next target at the 1.61x Fibonacci extension level of RM1.75 over the medium term. 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....
wtc1961
8 posts
Posted by wtc1961 > 2014-05-28 12:37 | Report Abuse
Hi bro,how do u knw wil b given dividend 4.27% ? As far as i knw is only given .25 on 3/6... tq