Candlestick & Breakout Patterns

LIONIND Bullish Rounding Bottom Breakout + Gapping Analysis

Ming Jong Tey
Publish date: Tue, 09 May 2017, 05:47 PM
Ming Jong Tey
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LIONIND (4235): Bullish

Pattern: Rounding Bottom Breakout

LIONIND Weekly Rounding Bottom

Based on LIONIND's weekly chart above, it broke out from the long term downtrend line in March 2016. Subsequently, the accumulation zone is formed via a rounding bottom pattern.

LIONIND broke the neckline of the first rounding bottom in Feb 2017 and then broke the second, which is the current rounding bottom last week.

Do watch out for the overhead resistance as boxed in red.

LIONIND Daily Gapping Analysis

It is shown on LIONIND's daily chart above, it broke the resistance/neckline using gaps as circled in blue with strong volume. This shows its strong bullish intention.

Based on the pattern projection, the target prices of LIONIND are 1.27, 1.5 and 1.91.

I am bullish on LIONIND as long as it is above 0.75.

 

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Discussions
1 person likes this. Showing 17 of 17 comments

myongcc5

I m not TA supporter but I do think yr target price is reasonable as my calling for 70% upside potential tis afternoon (deleted as per my style)
If u check 2016 bal sheet, u will b surprise tht despite yrs of losing money, cash c.f. Is >200mils, net asset is positive n huge shareholders fund >1b resulting in high NTA of 2.4RM. W Cheng holds 31.4% as one shareholder.

2017-05-09 20:08

myongcc5

Last Q earning is 8sen, revenue improved fm 596m to 644m (YOY), QoQ 514m to 644m. A very commendable good achievements, however if coming QR is > 5sen, we can expectprice to go above 1.2

2017-05-09 20:20

Chelsea

Coming q will be very good. My target is rm2 based on pe 8

2017-05-09 20:29

myongcc5

If following few Q earning substain above 5sens, 2 is not impossible! I will say >2 by then

2017-05-09 20:33

Ming Jong Tey

@myongcc5 With the extended safeguard duty for another 3 years for rebar, steel sector should have some more room to run up. In terms of operating margin, I would prefer ANNJOO over LIONIND.

2017-05-09 22:03

Ming Jong Tey

@Chelsea Let's look forward to the upcoming quarter earning.

2017-05-09 22:04

pussycats

Happy Wesak day to all our Buddhist friends!

2017-05-10 08:56

Ming Jong Tey

@pussycats 卫塞節快乐 :)

2017-05-10 08:58

youngym

Be careful of Lion group...From Amstell to Silverstone..I kena kau kau..

2017-05-10 10:02

chl1989

no brainer buy :)

2017-05-10 10:46

jackfruit

Lion Ind bhd is one of the pioneer steel Ind in Malaysia. That's say something about it.

2017-05-10 12:26

myongcc5

Woa, Ming Jong Tey, U r kungfu master,I tot u r technician but good knowledge of market n industry development. TQVM for sharing

2017-05-10 14:26

Ming Jong Tey

@youngym Like any other stock investment, do your own due diligence and set your stop loss before you enter to protect your risk :)

2017-05-10 16:23

Ming Jong Tey

@chl1989 Let's see if it will hit the targets by the end of the year.

2017-05-10 16:24

myongcc5

Balance sheet much better than some rebar ctrs! Only 4 listed steel bar producers currently. Check their Current net asset will tell.
Yet Lion King still lagging.
No reason not to hit TP if earning still good q by quarter!

2017-05-10 16:37

Ming Jong Tey

@myongcc5 You are welcomed. Not KungFu master lah. I practise value investing too so need to know a bit of fundamental.

2017-05-10 16:46

myongcc5

U r another Sifu, I can learn fm u!

2017-05-10 17:15

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