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Author: stockbitsniper   |   Latest post: Wed, 25 Nov 2020, 1:16 PM

 

A strong technical breakout for this company

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A strong technical breakout for this company

 

Recently, a stock had came under my radar for it's strong technical breakout from the double bottom consolidation level. The company would be ARB Berhad (7187), another company with crazy profitability but yet the stock price has not reflected in it's value yet!

The funny thing is, this company was also under the leadership of Dato Larry Liew, as he is relatively new in both Construction, Property Development, Mineral Trading and Technology sector, I suppose people in the market do not believe one man could achieve such feat.

Truth to be told, I had my doubts too. But when a company is starting to deliver profit and cash, sometimes we just have to listen to the numbers, don't we?

This would speak the same for ARB Berhad's technical outlook.

 

 

From what we can see from the chart, previously the company had a solid support level at RM 0.250. Yes there has been one minor fake breakout, but the stock quickly rebounded and soared to RM 0.315 level at the highest point.

I've did some simple math; assuming I were to buy at the support level RM 0.250, and sell at 23rd November 2020's closing level at RM 0.295, I would still make a pretty good profit of 18% in the short span of 3 weeks!

Now, the current price of RM 0.295 is very critical for the company as it is a strong support at this level, and the next resistant to break is of course the recent high point of RM 0.315. 

So, can we invest in the company as of now?

I don't see why not!

If you were to jot the EMA of 20, 50, 100 and 200 respectively of ARB Berhad, you would notice that the company share price is currently trading at above all the EMAs, which is a super bullish sign if you ask me!

Plus, this company is just as undervalued as AGESON Berhad. I will share with you the fundamentals of this company very soon.

 

So for now, if you invested in ARB Berhad already, just hold onto it. If you have not do so, you may test to break the RM 0.315 resistant, and next level would be RM 0.350!

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