Weekly chart.
Immediate resistance zone is between RM11.02 to RM11.60
Week ending 13 July 2018 the price action showed bullish engulfing pattern, after the TheStar publication on 10 July 2018.
What's next ?
Related post, Outlook for technology sector seems promising
Note
: S-Trader indicators/tools are not part of Metastock software package.
It is our proprietary system/tools. If you have any further inquiries,
please feel free to Contact Us.
Source :
1) Metastock
Daily chart.
Immediate resistance zone is between RM2.44 to RM2.53.
Check out the price action correspond to the current resistance zone back in time around early March 2018.
Since the news on technology sector outlook published by TheStar, the share price had rallied with relatively high volume on two occasions - 10 and 13 July 2018 but failed to break the resistance zone.
Is it waiting for strong catalyst to break the resistance zone ?
Related post, Outlook for technology sector seems promising
Note
: S-Trader indicators/tools are not part of Metastock software package.
It is our proprietary system/tools. If you have any further inquiries,
please feel free to Contact Us.
Source :
1) Metastock
Daily chart.
Immediate resistance zone is between RM2.37 to RM2.41.
This zone was broken by strong downward price movement with relatively high volume on 10 January 2018.
Take note the last few days price upward movement failed to attract relatively high volume. Also, there is negative divergence between price action and S-Trader Smart Money Index.
Is strong catalyst around the corner ?
Related post, Outlook for technology sector seems promising
Note
: S-Trader indicators/tools are not part of Metastock software package.
It is our proprietary system/tools. If you have any further inquiries,
please feel free to Contact Us.
Source :
1) Metastock
On 10 July 2018. TheStar reported on the outlook of Malaysia's technology sector by AmInvestment Bank Research. The detailed of the news drafted below.
The outlook of Malaysia’s technology sector seems promising in the
second half of 2018 (2H18), with the local semiconductor companies
expected to deliver stronger earnings.
According to AmInvestment Bank Research, which upgraded its stance to "overweight", the domestic technology sector's earnings in 2H18 will be driven by sensors, radio frequency chips and operational efficiencies.
"The key theme of the sector in 2H18 should revolve around connected cars, smart homes and automation.
"This paints a positive outlook for sensor and radio frequency (RF) chip manufacturers, automated equipment manufacturers and companies looking to improve operational efficiencies through automation.
"In the smartphone segment, which sales volume is plateauing in developed markets, sensor and RF content continues to increase," the research house said in a note.
AmInvestment Bank Research added that its "overweight" view on the sector could strengthen further, if the US dollar's outlook changes for the better or the semiconductor companies under its coverage secure new jobs of significance.
Apart from that, a share price correction of about 15% to 20% could also provide upside to the research firm's call.
Key beneficiaries of the sector in 2H18 are Inari Amerton Bhd, Malaysian Pacific Industries Bhd, Unisem (M) Bhd and Globetronics Technology Bhd.
AmInvestment Bank Research pointed out that the prospects of Vitrox Corp Bhd and Pentamaster Corp Bhd are also exciting amid the rising adoption of automation.
Moving forward, Inari Amerton and Malaysian Pacific Industries are AmInvestment Bank Research's top pick for the technology sector.
"Inari Amerton is expected to register robust earnings compounded annual growth rate of 31% from the financial years of 2017 to 2020.
It would be riding on three core pillars namely RF, which benefits from the transition to 5G and rising content per device, laser devices, which are boosted by increasing biometric and augmented reality applications in smartphones as well as LED, which rides on rising demand for high-resolution billboards in shopping malls.
"Meanwhile, Malaysian Pacific Industries is revamping its product portfolio to focus on higher-margin and higher-growth specialised markets.
"Its strong net cash position allows it to look into meaningful mergers and acquisitions," stated the research house.
Key risks for the domestic technology sector included lukewarm demand for end-products owing to weak economic conditions, monotonous content growth in underlying products in the absence of innovation and margin erosion in the face of a weakening US dollar.
Source :
1) www.thestar.com.my
UCrest Bhd was formerly known as Palette Multimedia Bhd.
The share price has tested the resistance zone (between RM0.355 and RM0.37) several times but failed to break it with recent event on 13 July 2018.
Even with relatively high volume, the share price not only failed to break the resistance zone but closed bearishly for the day.
Daily chart.
Last posting - Palette Multimedia Bhd (KLSE : 0005) - Resistance Zone Breakout !
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: S-Trader indicators/tools are not part of Metastock software package.
It is our proprietary system/tools. If you have any further inquiries,
please feel free to Contact Us.
Source :
1) Metastock
Hibiscus share price has been trading side-way for most of 4th quarter 2017 until mid of Dec. Then came an interesting article published by Focus Malaysia on Issue # 263 Dec 16-22, 2017. Below is the extract from the article.
However, with the US$25 mil (RM101.43 mil) acquisition on the verge
of being completed, Malaysia’s first listed independent oil and gas
(O&G) exploration and production company has to grapple with some
uncertainties relating to the oilfield.
One of them is that the data on the reservoir is dated (as of 2015).
Additionally, a former O&G engineer says oil production in the North
Sabah oilfields may have a water cut of up to 80%.
A water cut is the ratio of water produced compared with the volume of total liquids from an oil well.
The engineer says in a well-producing oil with 80% water cut, the
cost of handling the wastewater can be as high as US$4/barrel of oil
produced.
“In some parts, water production is increasing as fast as the reservoir oil rates are declining,” he tells FocusM.
For more details, Uncertainties loom over Hibiscus' Sabah oilfield
Thereafter,
the share price experienced minor pullback before the big rally that
pushed the price to a new high of RM1.17 on 15 January 2018.
Daily chart.
Note
: S-Trader indicators/tools are not part of Metastock software package.
It is our proprietary system/tools. If you have any further inquiries,
please feel free to Contact Us.
Source :
1) Metastock
2) www.focusmalaysia.my
On 26 March 2018, StarBiz reported Kenanga Research maintained outperform on Hai-O Enterprise with an
unchanged target price of RM6 as 9M18 net profit of RM58.6mil came in
within both its and consensus expectations at 70% of full-year
forecasts.
More details, Kenanga maintains outperform on Hai-O.
Recently, StarBiz reported Hai-O Enterprise Bhd’s
net profit fell 12% year-on-year (y-o-y) in its fourth quarter ended
April 30, on the back of lower revenue contribution from its mainstay
MLM business.
More details, Hai-O net profit down on lower contribution from MLM business.
The following day, 28 June 2018, StarBiz reported Affin Hwang Capital Research has a "buy" call for it.
More details, Hai-O "buy".
Weekly chart.
Immediate Support Zone : RM4.39 to RM4.70.
What do you think the outcome ?
Note
: S-Trader indicators/tools are not part of Metastock software package.
It is our proprietary system/tools. If you have any further inquiries,
please feel free to Contact Us.
Source :
1) Metastock
2) www.thestar.com.my
