Engtex Group (ENGT MK) ----------------------4TH APRIL Technical BUY with +17.8% potential return Last price : RM1.97 Target Price : RM2.20, RM2.32 Support : RM1.86 Stop-loss: RM1.85 BUY with a target price of RM2.32 with a stop loss below RM1.85. ENGT’s share price has been consistently climbing above the rising trendline in the last 10 months. Following the pullback from the recent high of RM2.02, ENGT stabilised above the immediate support of RM1.86 before making an attempt to remove the RM2.02 barrier yesterday. Although the share failed to push through, the sharp increase in trading volume indicates the presence of strong buying interest, thus a positive closing above the immediate resistance of RM2.02 may fuel further interest in the share price. Waning selling pressure as flashed by MACD also suggests a potential upward continuation hereafter, thus we peg our upside target at RM2.32 over the short to medium term.
From my calculation.... this stock value around RM5 somethings... its very very cheaper now to buy... after GADANG... THIS STOCK VERY VERY best to buy.... come on buddies... buy buy buy.
Correct me if i wrong.... this is my understanding after read adam khoo book... it is the easiest way to calculate for the lazy man like me... hahaha..
more potential huge supply contracts from mega projects around the country, besides Langat 2, shall boost its earnings growth profile in the longer term, so is higher PE multiple of 12-13 times expensive? Based on average eps of rm0.30 + cents over the next few years, rm4 is not far fetched.
Dun worry, Engtex price movement always up & down, but long term in uptrending. See so many investors r confident about the company future, some give TP 4 & 5. =)
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pradeep
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Posted by pradeep > 2014-04-03 15:04 | Report Abuse
It broke 2.02 beautiful