REXIT (0106) :
Rexit Berhad (Rexit) is a Malaysia-based investment holding company. It focuses on delivering solutions and services to the insurance industry. The Company offers Web-based insurance solutions, which cater for the front-end marketing and sales functions, as well as the back-end operations and management requirements of insurance companies. Rexit’s e-Cover application enables a business to deliver products and services electronically.
The company last year ended 30-Jun-09 stood at dividend yield of 5.6%. Gearing ratio is not more than 0.50 and both return of equity and asset are comfortably above 15%.
For the past 8 months, this counters has been damping within the range of 0.450 to 0.920 (below MA200) and settling close to around 0.630. Since Feb-08 until now, today is the first day this counter comes in-touch with the MA200 line at 0.627 (intraday crossed up 0.630). The price is propagating toward the end of the symmetrical triangle. MACD is round bottom and crossed upward but slightly below zero, RSI stands at 54, STC stands at around 95, MOM above zero, fairly increased in volume. Bollinger band open at 16%.
Unless it breaks and sustains above 0.630, otherwise it may consolidate within the range of 0.580 to 0.630 toward 0.600 tips. Possible resistance levels are 0.650/0.680/0.750/0.820. Should it fall below 0.580, it is a negetive stand where it will be reviewed again. By then better preserve the capital.
