Background

On weekly chart since 2018, HLBANK is approaching all time highs.  The question is should you sell?

Fundamentals

Over the past 10 years, its fundamentals looks good to very good.  

• RPS +4% CAGR is decent (C+/B-)
  
• EPS and DPS growth of +7%-7.5% CAGR is good/very good (B)
• NAPS growth of +9.25% CAGR is very good (B+)

Fundamentally, this is a good bank to still hold.  It's not over-valued yet.  E.g.

• P/NAPS ~ 1.25 which is on the lower end of the 10 year range of say 1.05 to 1.71.  It's still under-valued.
  
• P/E ~ 11.1 which is on the lower end of the 10 year range of say 10.2 to 15.5.  Still undervalued.
• DY ~ 3% which is similar to FD rates quantum wise, but unlike FD rates, this is projected to rise by around 7% per annum.   My DY on cost is higher by more than 3.3% as I'm entered HLBANK late.

My Preferred Chart Time-frame for Investing Positions

As you will know by now, for investing positions, my favorite time-frame are Monthly Charts over a couple of bull and bear market cycles.  My goal is to try to buy near market lows and sell when the bull market is feeling euphoric.  As such, I see the following:

Key observations:

1. This stock is on a long term uptrend.  With a stock like this, actually, we don't need to sell so soon - just hold and in time, it'll make new highs.
2. I feel this particular way of drawing the channel makes the most sense to me, as the top, middle and bottom lines touches the most points.
   
3. Using this channel as a potential reference point, one could interpret this as saying that when prices are higher than the top of the channel, it may be regarded as "over-valued" / "euphoric" when one can consider taking profits / selling.  Conversely, when prices are below the bottom of the channel, it may be regarded as "under-valued" / "fearful" when one can consider accumulating.
4. Using this channel as reference, we can see that actually, today, HLBANK is just barely crossing the middle point of the channel.
5. This gives me confidence that HLBANK is more likely to cross above the midpoint, and rise to the top of the channel.  
6. If it reaches to the top of the channel by FYE2025-2026, then, it may not be impossible to see RM30 if the bull holds.

Summary and Conclusion

As long as HLBANK business fundamentals remains intact, and as long as the bull market continues to hold, this is clearly not the time to sell yet.  I believe in time, there will be more upside to come.

Hence, I am not selling yet!

Disclaimer:  As usual, you are solely responsible for your investing and trading decisions.