Public Packages Holdings----------------dated 27//03//14
(PP MK) Technical BUY with +23.4% potential return Last price : RM0.705 Target Price : RM0.770, RM0.870 Support : RM0.655 Stop-loss: RM0.650 BUY with a target price of RM0.870 with a stop loss placed below RM0.650. Following a healthy correction from the recent high of RM0.770, PP’s share price has established strong support at RM0.655. The share price has rebounded strongly off the immediate support level by forming a “rising window” and managed to close above sloping 10-day and 21-day SMA lines yesterday. The higher trading volume of 1.2m shares (vs 20-day average of 0.14m) registered yesterday suggests a genuine breakout which also confirms the creation of a new up-leg. Positive signals by both MACD and Stochastic should, in our view, support the share price to retest the previous high of RM0.770 in the near term. Taking into account the overall trend, we peg the upside target at the 1.38x Fibonacci extension level of RM0.870 over the medium term.
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....
teor cheosoon
266 posts
Posted by teor cheosoon > 2013-06-03 07:55 | Report Abuse
Why surge up?