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.
Got some more contracts coming not announce yet my friend says. I long term investor die die also hold until Rm1.0 even if it takes 2 years. Better than FD. Hahaha. Any followers?
KUALA LUMPUR (Oct 21): Based on corporate announcements and news flow today, stocks in focus on Monday (Oct 24) may include: Multi-Usage, Econpile, Pesona Metro Holdings Bhd and Sinotop.
My frend say tis latest contract very the impressive the customer from Singapore to build high end residences in Jalan Kia Peng the very the expensive place in the golden triangle KL
my friend said, Monday q buy is the right. and my friend friend say.. let buy together and keep for half year. then my friend friend friend say.. ok ..let rock. and my friend friend friend friend said... why bo jio...
My frend say investment must serious cannot play play main main. Buy company with the very the bright future only Oso cannot people jio u teo buy u must do the check urself.
With latest RM 402 million contract won, Pesona order books has swelled to RM 1.8 billion even more than Gadang order book(RM 232 million?). Why share price so much different? Be greedy when others are fearful-Warren Buffet. Bought more today 45.5 sen.
My frend say good news come one by one NEW PROJECTS GOOD NEWS IN BUDGET now SEP. Then SAAB GOOD RESULT sure wil up to new high price. Even more stronger got more than one good news the TP like the sky
Perhaps Pesona TP 70 sen next year so SEP vendor agree 70 sen shares to be issued? Pesona even reach RM 1 last year.
Posted by yk1188 > Oct 24, 2016 09:51 PM | Report Abuse is it true that they issue 39.5million share with rm0.70 to complete this trading ? It is too high price compare with current 45.5cents only...
RM 1.8 billion contract can last 5 years and qtrly abt RM 90 million revenue(higher than last QR revenue). If complete faster qtrly revenue become higher.
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....
takashino
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Posted by takashino > 2016-10-21 19:26 | Report Abuse
NEXT WEEK WILL UP UP UP LIAO.................