Bursa Malaysia Stock Watch
Taliwrk may have a bullish breakout
kltrader
Publish date: Fri, 23 Apr 2010, 11:05 PM
kltrader
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Taliwrk broke above its downtrend line at RM1.55 on April 9. It continued to rise & it broke above the horizontal resistance at RM1.80. Its next resistance is at RM2.00 (see Chart 1).
Chart 1: Taliwrk's daily chart as at April 23, 2010_11.40am (Source: Quickcharts)
Taliwrk-WA has similarly broken above its downtrend line at RM0.20 on April 9. It broke above its horizontal resistance at RM0.40 this morning. The warrant will expire on 21/9/2010. Its exercise price is at RM1.27, which means that it is trading at a discount to the underlying share. See the chart below.
Chart 2: Taliwrk-WA's daily chart as at April 23, 2010_11.40am (Source: Quickcharts)
Taliwrk is a quiet stock. For FYE31/12/2009, the company reported a net profit of RM39 million on turnover of RM159 million. Its EPS for FY2009 was 10.3 sen- a decline from 12.2 sen achieved in FY2008.
Based on the above technical breakout, Taliwrk may be a good trading BUY. As this is a quiet stock, you may want to scale back your position.
Chart 1: Taliwrk's daily chart as at April 23, 2010_11.40am (Source: Quickcharts)
Taliwrk-WA has similarly broken above its downtrend line at RM0.20 on April 9. It broke above its horizontal resistance at RM0.40 this morning. The warrant will expire on 21/9/2010. Its exercise price is at RM1.27, which means that it is trading at a discount to the underlying share. See the chart below.
Chart 2: Taliwrk-WA's daily chart as at April 23, 2010_11.40am (Source: Quickcharts)
Taliwrk is a quiet stock. For FYE31/12/2009, the company reported a net profit of RM39 million on turnover of RM159 million. Its EPS for FY2009 was 10.3 sen- a decline from 12.2 sen achieved in FY2008.
Based on the above technical breakout, Taliwrk may be a good trading BUY. As this is a quiet stock, you may want to scale back your position.
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