TRADING of the shares in Ho Hup Construction Company Bhd (fundamental: 0.4/3, valuation: 1.5/3) triggered our momentum algorithm last Friday for the fourth time this year.
The stock closed four sen or 9.52% higher at 46 sen, with 4.57 million shares done, compared with the average 432,968 shares recorded in the past 200 days.
For the fourth quarter ended Dec 31, 2018, Ho Hup’s net profit fell 31% to RM6.49 million from RM9.41 million a year ago, on higher finance costs and marketing expenses despite stronger revenue.
Revenue rose 48% to RM100.98 million from RM68.05 million due to progress billings from various construction works in Terengganu, Johor and Perak.
For the full year, net profit fell 32% to RM27.4 million from RM40.08 million a year ago, although revenue rose 45% to RM259.96 million from RM179.68 million previously.
Ho Hup Construction is currently trading at 0.47 times its net book value.
LYC to open third mother and child care centre in Bukit Jalil CORPORATE NEWS Tuesday, 30 Apr 2019 7:39 PM MYT
KUALA LUMPUR: LYC Healthcare Bhd is setting up the group's third mother and child care centre in Bukit Jalil, Kuala Lumpur.
The company, in a statement today, said it has entered into a tenancy agreement with Ho Hup Jaya Sdn Bhd to lease one retail lot at Aurora SOVO and three retail units at Ho Hup Tower for a combined monthly rental of RM92,594.
The tenancy agreement is for 12 years, split into four separate terms of three years each.
The counter has been on a staggered uptrend since mid-December last year, about doubling its share price value over five months.
Monday's strong intra-day breakout was coupled with record trading volume, indicating that a strong buying lead that had come into play.
Now trading above all the key simple moving averages (SMA) the outlook has turned significantly more bullish for the stock.
Looking over the near-term horizon, the rising 14- and 21-day SMAs and a firm ascending trendline are offering lift to the share price.
The share price is currently challenging the immediate resistance at 55 sen, which represents a high last seen in July 2018.
A break out of the hurdle looks likely given the current positive momentum, leading the share price to a higher target of 64.5 sen.
The momentum indicators are also looking optimistic over a sustained rally. The slow-stochastic momentum index continued to rise at 65 points.
The 14-day relative strength index has entered overbought conditions at 76 points but remains healthy.
The daily moving average convergence/divergence line is also in a \"buy\" position, having crossed the signal line and is rising sharply to suggest the uptrend is gaining strength.
Hohup made official announcement for entitlement of RM 266M from Malton transaction. This alone worth RM 0.70 per share...this morning share price trading only at RM0.60...stunning value!!!
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....
Crash123456buil
527 posts
Posted by Crash123456buil > 2019-04-04 13:01 | Report Abuse
Will shoot up 0.56, just que 0.43