It's good to be back! The first stock to look at is Integra.

Integra had a bullish breakout of its triangle formation at RM1.18-20 last Friday (see Chart 1). It also broke above its long-term downtrend line at RM1.25 (see Chart 2). This double bullish breakout could be due to a fight between the two Rasip brothers (Harun & Amin) for control. The fight is not a straightforward affair as Harun & Amin jointly owned Halim Rasip Holdings Sdn Bhd which in turn owned 33% of Integra. This is likely to be similar to the tussle in Tan Chong Consolidated (for control of the listed vehicle, Tan Chong) or Kian Joo Holdings Sdn Bhd (for control of the listed vehicle, Kian Joo). It can be a long drawn-out affair with no clear winner. I think the best approach is to confine our analysis based on technical consideration. With that in mind, the first target to take profit is RM1.50-1.60, if one already owned the share. If you want to get into the stock, you can try at RM1.18-1.25. Good luck.


Chart 1: Integra's daily chart as at June 18, 2010 (Source: Tradesignum)


Chart 2: Integra's weekly chart as at June 18, 2010 (Source: Tradesignum)