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2016-10-22 09:21 | Report Abuse
Business NewsHome > Business > Business News
Saturday, 22 October 2016
Eye on stock: Pesona Metro
BY K.M. LEE
PESONA Metro Holdings Bhd (Pesona; Code: 8311) was on the upward trend the past several months amid continuous bargain-hunting interest, lifting the shares from a two-year low of 33 sen on June 24 to a high of 44.5 sen on Thursday, the best level in 11 months, before turning range-bound absorbing a bout of mild profit-taking selling.
The birth of a young bull arrived following a prolonged correction phase. Based on the daily chart, this stock appears in the infancy stage of a recovery phase and albeit on a gradual pace, the course looks solid.
Apparently, the bulls had paused for a breather now but there is nothing to worry about, as it was expected, with prices approaching the relatively stiff resistance of 45 sen-47 sen band.
According to the tracking system, buying interest still is overwhelming and given the strong backing from investors, we expect to bulls to tear down the immediate barrier soon and start rallying again on renewed buying.
The next upper hurdle is expected at the 54.5 sen-55 sen range, followed by the 58.5 sen level but we reckon the bulls may seize the opportunity and ride on the current wave to at least fill the 63 sen-64 sen minor gap or challenge the 65.5 sen heavy-resistance line.
Elsewhere, the oscillator per cent K and the oscillator per cent D of the daily slow-stochastic momentum index were on the rise after triggering a short-term buy at the 40% level the previous week. The past week saw the 14-day relative strength index rose from a reading of 56 on Tuesday to settle at the week at the 78 points level yesterday.
Click on image for larger view
Meanwhile, the daily moving average convergence/divergence histogram sustained the steady upward expansion against the daily trigger line to keep the bullish note.
On the back of a pretty encouraging technical landscape, Pesona shares are poised to continue staying on the mending path and any pullback due to overbought condition is likely to be temporary. As for the downside, crucial support is pegged at 41.5 sen, which is the short-term bullish ascending trendline and coincidentally, also the 21-day simple moving average.
The comments above do not represent a recommendation to buy or sell.
TAGS / KEYWORDS:
Eye on stock , Pesona Metro
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2016-10-21 19:26 | Report Abuse
NEXT WEEK WILL UP UP UP LIAO.................
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2016-10-21 19:25 | Report Abuse
OTHERS LETTER OF AWARD FOR THE EXECUTION AND COMPLETION OF "CADANGAN PEMBANGUNAN 1 BLOK PANGSAPURI SERVIS 52 TINGKAT (632 UNIT) DI ATAS LOT 371, SEKSYEN 63, JALAN KIA PENG, KUALA LUMPUR" FOR CITY VIEW VENTURES SDN BHD ("Project")
PESONA METRO HOLDINGS BERHAD
Type Announcement
Subject OTHERS
Description LETTER OF AWARD FOR THE EXECUTION AND COMPLETION OF "CADANGAN PEMBANGUNAN 1 BLOK PANGSAPURI SERVIS 52 TINGKAT (632 UNIT) DI ATAS LOT 371, SEKSYEN 63, JALAN KIA PENG, KUALA LUMPUR" FOR CITY VIEW VENTURES SDN BHD ("Project")
Pesona Metro Holdings Berhad (“PMHB” or “the Company”) is pleased to announce that Pesona Metro Sdn Bhd, a wholly owned subsidiary of the Company, has on 20 October 2016, accepted a Letter of Award from City View Ventures Sdn Bhd for the above Project for a contractual sum of RM402,000,000.00.
Details of the full announcement is attached herewith.
This announcement is dated 21 October 2016
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2016-10-12 08:55 | Report Abuse
boleh collect murah..but jangan jual at panic
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Stock: [PESONA]: PESONA METRO HOLDINGS BHD
2016-10-22 09:22 | Report Abuse
The next upper hurdle is expected at the 54.5 sen-55 sen range...Good...