Barakah Offshore Petroleum ----DATED 8/05/14,,UOB KAY HIAN (BARAKAH MK) Technical BUY with +20.7% potential return Last price : RM1.69 Target Price : RM1.90 Support : RM1.60 Stop-loss: RM1.58 BUY with a target price of RM1.90 with stop loss placed below RM1.58. BARAKAH’s share price breached the immediate resistance of RM1.60 on 22 Apr 14 after consolidating in a tight range since 25 Feb 14. BARAKAH had climbed and hit a new high of RM1.69 before profit-taking activity pulled the share price lower. Nevertheless, the share price remained steady above the rising trendline, thus last Wednesday’s retest of the recent high should signal the potential continuation of the previous uptrend. Given the uptick in the RSI, positive momentum should lend support to the share price so that it can nudge higher and possibly retest the all-time high of RM1.90 in the near term
Dear Vicky & Pineapple, pls be informed the conversion of LA to mother share requires no payment at all, a lot of people are confused on this. Come Oct2014, the LAs are freely convertible into mother share at perhaps a small processing fee, if any.
Barakah Offshore Petroleum (BARAKAH MK) Earnings To Ramp Up In 2H14 Barakah Offshore Petroleum recently secured more pipeline installation projects, proving to investors that it has what it takes to win contracts. While the main risk lies in execution, we believe that the company could execute its jobs at decent margins given its good track record and expect earnings to ramp up in 2H14. We upgrade the stock to BUY from HOLD with a higher target price of RM1.95 from RM1.70 as we upgrade our earnings forecasts in FY15.
Basing on chart, its hourly and daily shows weakness/ bearish . However, chart is chart, one can never predict the Traders' Sentiments over the next few days.... so just keep watching closely .....
Hi, Pradeep, I also no idea on the Target price. But the latest change in board make me worry. http://klse.i3investor.com/servlets/anpth/997450.jsp hence, i want to ask you guys opinion whether is it a good or bad news to barakah?
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
hasruld
47 posts
Posted by hasruld > 2014-05-08 10:18 | Report Abuse
wah today climb to 1.74..any good news?