Highlights / Stock Picks of the Day------------KENANGA TECHNICALS TODAY
LB Aluminium Bhd (LBALUM) – Take Profit
Recall that on 20th of Dec, we highlighted LBALUM (Technical Buy @ 58 sen) when its share price confirmed a “Ascending Triangle” chart pattern. During this 4- month time frame, the share price performed mostly to our expectations, with LBALUM finally surpassing our target price of 68.5 sen yesterday for a good 18.1% gain. For the day, the share price was up by 13 sen to end at RM0.75 on high volume. While the technical picture has yet to show signs that momentum is waning, we note that both the Stochastic and RSI indicators have entered into overbought regions. This indicates that further gains are likely to be limited from here, and as such, we suggest traders “Take Profit” on any strength. Outlook Neutral Key Resistance level RM0.79 (R1) RM0.84 (R2) RM0.90 (R3) Key Support level RM0.65 (S1) RM0.56 (S2) RM0.51 (S3) Strategy Take Profit Current Price RM0.75
Undervalue counter....NTA 0.97 every qtr profit. Can buy and hold for mid term. Monday will fly again....today only profit taking by contra player. TP above RM1.00 very soon
Hitman, let's talk Pmetal @ Pmetal thread then. But I also like this counter. This afternoon, I got observe its movement. maciam nak datang anytime.... Some more closed low... Got chance to pick up cheap on Wed.
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Posted by valuemaster > 2014-04-18 16:42 | Report Abuse
as told, don't buy extruders, you should be losing your money now, directors are selling like crazy, check brusa announcement