Destini (DSTN MK) Technical BUY with +18.3% potential return Last price : RM0.60 Target Price : RM0.67, RM0.71 Support : RM0.0.57 Stop-loss: RM0.56 BUY with a target price of RM0.71 with stop loss placed below RM0.56. Share price has accelerated its upward movement following a successful breakout above the “cloud” on 4 Apr 14 before meeting strong resistance at the RM0.61 level. Despite numerous attempts in the last 10 days, we expect the impending breakout could come sooner than expected, given the renewed buying interest of 15.8m shares yesterday. Given the surging momentum on the back of a positive MACD and supported by the 10-day SMA line, DSTN could breach the resistance level and this could spur further buying interest in the near term. Banking on a positive closing at over RM0.61, we peg our upside target at 1.61x Fibonacci extension level of RM0.71 over the medium term.
These are not contra players dumping theirs. These are a healthy correction opted by the counter for an increase to a higher price later this week perhaps. I would buy some again when its at an appropriate price. Remember how KNM rises?
Believe this counter likely to consolidate soon based on their recent huge transaction volume and price acceleration.
Consider to focus on Sona and wa now while awaiting for Destini to climb to another new chapter .
Note: My friend and I bought Sona during IPO placement period and also accumulate/ top up Sona's mother share during their price transaction drop between 39 to 40.5 sen. Strong margin of safety that company will guarantee refund you at 45 sen cost plus interest if no QA declare ......
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aiman168
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Posted by aiman168 > 2014-04-18 09:46 | Report Abuse
I ENTER AT 0.61 YESTERDAY