BRDB closed up another 7% and it is time to take profit tomorrow. Where should we take profit? Please refer to the explanation on the chart below for better a understanding.
Correction: The fast STC reached 100% not 90% as written on the chart. This signal an over bought and lightly to correct tomorrow.
Existing stock to consider - Sapcres (8575)
Listing Date: 15.10.1992
Market: MAIN
Sector: TRADING/SERVICES
Par Value: 0.20
Major Industry: Diversified
Sub Industry: General Diversified
SIC Industry Code: 1382 - Oil And Gas Exploration Services
Last qtr net profit: RM52,362,000.00.
Last qtr EPS: 4.14 sens, increase 52% Q-Q.
Growth rate: Increase 38% Y-Y
ROE: 13.92
Present PER: 18.56
Investment Objective: Mid Term
Formerly known as:
CREST PETROLEUM BERHAD
SAPURACREST PETROLEUM BERHAD is engaged in investment holding and provision of management services to its subsidiaries. It has four segments: installation of pipelines and facilities, which involves the installation of offshore platforms and marine pipelines; offshore oil and gas drilling, which involves drilling of offshore oilwells and chartering of rigs involved in drilling offshore oilwells; marine services, which involves provision of offshore geotechnical and geophysical services to the oil and gas industry, development of marine technology and marine chartering, specializing on remotely operated vehicle, and operations and maintenance, which involves repairs and refurbishment of industrial gas turbines, supply, installation, commissioning and maintenance of point-of-sale systems for petrol stations and asset management services for offshore installations. In July 2008, the Company acquired two shelf private limited companies, Aurabayu Sdn Bhd and Geomark Sdn Bhd.
Today Sapcres broke out 2.34 and sustains above it to close at 2.37. By looking at the chart, it is on its way of EW5 and potentially the price will hit at the upper trend line at the tip of the EW5. Let's look at the indicators below:
Volume: Not obvious but gradually increase
Bollinger Band: Expanded 17%, price above BBMB
Moving Average: Price above 10 and 20 days MA
MACD: MACD line crossing up. Histogram form a rounded bottom
RSI: Above 60%
STC: Above 70%
Support 2.33 and the temporary resistance is 2.37
Cut loss: Below 2.25 or -5% to -8% of your entry price
Please refer to the chart for a better understanding
