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Bursa Master

Author: BURSAMASTER   |   Latest post: Sat, 20 Jul 2019, 11:50 AM

 

BULLISH PATTERN FORMING - POTENTIAL BREAKOUT !

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HUAYANG - BULLISH PATTERN FORMING- POTENTIAL

BREAKOUT !!!!! (PERSONAL TP FOR TRADING 0.49),

This company had been catching my attention today, HUA YANG BERHAD or HUAYANG (Code 5062, MAIN BOARD, PROPERTY) due to the rising volume interest and bullish chart formation, also coupled with its good financial standings

WHY I THINK THIS STOCK IS UNDERLOOKED AND COULD HAVE GREAT POTENTIAL TO RISE FURTHER? 

1. Technical Analysis - Possible Cup and Handle Breakout Towards TP 0.49

Refer below daily chart taken as of half day today. 

We can see from September 2018 until today, it had started to form a cup and handle shape with 0.43 as the main breakout point. I see a potential breakout above this level soon, due to the following bullish criterias:

a. MACD has crossed the signal and triggered a buy entry

b. Significant volume increase today towards 2 million units done

c. Stochastics in oversold position, and starting to trend back upwards indicating bullish buying in market

Next resistance should the price be able to break 0.43, is towards 0.49 which is my trading TP.

2. Financial Analysis - Improving Net Profit and High NTA

Refer below latest HUAYANG quarter report as of January 2019. Company had registered a net profit of RM 5.772 million against revenue of RM 68.424 million, which is a 703% improvement compared to last year corresponding quarter. 

From the quarter report, it is noted that the reason for improvement as below:

(a) Property development : For the quarter under review, revenue and profit before tax increased by 38% and 472% respectively as compared to the previous financial year corresponding quarter. The improved results were mainly driven by higher sales contribution from Astetica Residence, Seri Kembangan and Bandar Universiti Seri Iskandar.

(b) Other Operations :Revenue and profit from other operations mainly consist of rental income derived from the operation of commercial properties under the "build, operate and transfer" concession with local authorities and newly established franchising food and beverage outlet, namely "Kluang Station" at One South.

Company NTA is also standing strong at RM 1.75.

CONCLUSION

Considering all the above, my personal trading TP for HUAYANG is set at RM 0.49

LET’S SEE HOW THE SHARE PRICE MOVEMENT IN THE NEAR FUTURE FORBEARING ANY GOOD CORPORATE NEWS.

Disclaimer : The above opinion is not a BUY CALL but only sharing my observations.

BURSAMASTER

 

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Labels: HUAYANG

Related Stocks

Chart Stock Name Last Change Volume 
HUAYANG 0.445 -0.005 (1.11%) 321,700 

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KAQ4468 chee buy !!!
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KAQ4468 Should change your login ID to Bursa Idiot instead
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