interesting to see hong leong bank give target price for fitter.. lol...
Trading Idea
FITTERS: Set fire to the share price after the completion of Cup & Handle formation
§ A strong signal of the uptrend continuation is substantiated by the long-term downtrend breakout on weekly chart. Further upside targets are RM0.905 and RM0.93 (2 Feb 12), with long term target price of RM1.03 (measuring objective of C & H). Immediate support is RM0.85 (10 Mar low) and RM0.825. Cut loss at RM0.815.
Fitters Diversified (FIT MK) -------------------7//03//14 Technical BUY with +24.4% potential return Last price : RM0.860 Target Price : RM1.01, RM1.07 Support : RM0.825 Stop-loss: RM0.815 BUY with a target price of RM1.07 with a stop loss placed below RM0.815. Following a minor pullback from the recent high of RM0.905, FIT has established support around RM0.825 as it has recovered gradually in the last 3 days. The share price has rebounded off the 22-day SMA line, suggesting the uptrend remains intact. Given the stochastic indicator is on the verge of flashing a bullish signal, we expect upside continuation to spur fresh buying interest and confirm a new up-leg. As the share price is still trading above the “cloud”, the uptrend should continue, thus we peg our upside target at the 1.61x Fibonacci retracement level of RM1.07 over the medium term.
strongly buy recommendation for fitters.....tp1.43......accumulate.....the company will list their in singapore stock exchange in due time.......with strong management team.....the information has been gathering during visit to the plant and outlets...accumulate and keep....
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....
brendonyeap
1,648 posts
Posted by brendonyeap > 2014-03-12 06:57 | Report Abuse
We want a safe train.