This is an uptrend counter with price & volume has improved slowly! As mentioned in the last few page in this blog that 30 shareholders have control 90% of the share capital. Frankly if it's able to show good Quater results b4 31 May 17, Then possible the share price will improve further !
The company is not very fundamental good company with unstable financial results but that is small issue but the main issue is litigation case by Petronas Gas with one of it subsidiary that ongoing and the demand sum will totally wipe out its entire bank account sum if they lost the case. .....6.6mil and putting it short term loan of 2mil in defaults too.
I bought during the last major consolidation in April 17 for its turnaround consecutively for 3 Qs & with expectations of improving businesses in the coming Qs as semicon already rebounded proved by Notion, Jcy, Mpi ... also aware of legal case put up by Petronas for 40+M.
TA Analysis for Mclean-wb: For your reference only:
Target price RM0.160 Last closing price RM0.145 Potential return 10.3% Support RM0.125 Stop Loss RM0.120
Possible for further upside.MCLEAN-WB’s share price picked up on an uptrend and attempted to break into new high territory.Both bullish RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term.Should the resistance level of RM0.140 be genuinely broken, it may continue to lift price higher to the next resistance level of RM0.160.Note that the maturity date of MCLEAN-WB is on 7 Oct 2020.
However, failure to hold at support level of RM0.125 may indicate weakness in the share price and hence, a cut-loss signal.
Go and study details of the case. Petronas will retreat or will loose this case. It involve land Constructed effluent discharge pipe" UNDER" and DOE too.
Mclean construct first Petronas build gas pipe later. The effluent is inside the pipe and so on. There was a case in Texas .
Technically this counter has the momentum to go up further (as there are too many goreng2 counters same like mclean going up very high til 1.00!) ;but ones if have the technical skill, then now this counter is good to trade! Offcourse always set a cut-loss point!!
So far the volume traded was not too high yet, even the price consolidate downward, it's still has high possibility to surge in price again as the momentum for this counter has already build up!
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 3141 views | 3 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
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....
lachai2004
589 posts
Posted by lachai2004 > 2017-05-10 07:24 | Report Abuse
Look good! The big push may come soon!