Haio-7668: Forming downtrend.
Chart 1:Haio-7668 (08/01/2010～05/05/2010)
As indicated by A and A', price of Haio formed a Lower-high, and later consolidated above the RM4.38 level. Despite being supported by the RM4.38 level, the consolidation was bearish biased, for the lower-high implies a weakening movement.
As indicated by B, price of Haio broke below RM4.38 level, suggesting that those who had bought and hold their position above RM4.38 are now making losses, thus the idea of breaking even is getting stronger. Therefore, there will be memory of breaking even at RM4.38, A' and A1 level.
Nevertheless, when price broke below the RM4.38 level, the 14, 21, 31 EMA was also falling while serving as a dynamic resistance. In other words, the technical outlook for Haio shall remain bearish biased until price should successful break above the 14, 21, 31 EMA with strong volume.
| 4 Q Rolling PER | 15.7 times | Dividend Yield | 10.29% |
| Dividend | Dividend Yield | Net Profit Ratio | |
| 30/04/2009 | 42 sen | 11.11% | 11.96% |
| 30/04/2008 | 40 sen | 11.17% | 12.97% |
| 30/04/2007 | 18 sen | 8.11% | 11.29% |
| 30/04/2006 | 8 sen | 6.35% | 7.06% |
| 30/04/2005 | 6 sen | 6.00% | 3.95% |
Table 1:Haio-7668, yearly dividend, dividend yield, and net profit ratio.
BJCORP-3395]：Forming Downtrend.
Chart 2: BJCORP-3395 (08/01/2010～05/05/2010)
As shown on chart 2, price of JBCorp retreated after reaching its height of RM1.87 level, but managed to be supported by the 14, 21, 31 EMA and rebounded from there. However, when price rebound from the 14, 21, 31 EMA, it has failed to return to its previous height, and formed a Lower-high, which forms the L1 line.
As indicated by A, after forming the L1 line, price of BJCorp also break below the 14, 21, 31 EMA, confirming the formation of a downtrend while the 14, 21, 31 EMA as well as the L1 line are both serving as dynamic resistance. In short, the technical outlook for BJCorp is now bearish biased.
If price were to return to its uptrend, it has to break above these dynamic resistance with strong volume, or else, any rebound below the dynamic resistance would only be counted as technical rebound, not a reversal.
| Leading PER | -75.49 times | Dividend Yield | 2.18% |
| Dividend | Dividend Yield | Net Profit Ratio | |
| 30/04/2009 | 3.35 sen | 3.99% | -0.83% |
| 30/04/2008 | 9.00 sen | 8.11% | 17.20% |
| 30/04/2007 | 0 sen | 0% | 5.72% |
| 30/04/2006 | 0 sen | 0% | -24.33% |
| 30/04/2005 | 0 sen | 0% | -3.03% |
Table 2: BJCORP-3395, yearly dividend, dividend yield, net profit ratio.
Review of last week's Case Study:MRCB-1651 :T1 downtrend line remains intact.
Chart 3: MRCB-1651 (08/01/2010～05/05/2010)
As shown on chart 3, the T1 downtrend line is still intact, suggesting that price of MRCB is still trending down. As indicated by A, price of MRCB rebounded and tested the 14, 21, 31 EMA as well as the T1 line last week, but failed to break above these dynamic resistance. This has once again, proven that the technical outlook for MRCB is on the negative side.
Nevertheless, technically, provided price should remain resisted by these dynamic resistance, the bearish biased outlook is expected to carry on. If price should rebound but failed to break above these resistance line, the rebound would only be technical rebound, not a reversal. A valid break out above the T1 line has to be accompanied by strong volume, or else, the downtrend remains intact.
| 4 Q Rolling PER | 39.79 times | Dividend Yield | 0.66% |
| Dividend | Dividend Yield | Net Profit Ratio | |
| 31/12/2009 | 1 sen | 0.73% | 3.76% |
| 31/12/2008 | 0 sen | 0% | -7.18% |
| 31/12/2007 | 0 sen | 0% | 4.51% |
| 31/12/2006 | 0 sen | 0% | 6.20% |
| 31/12/2005 | 0 sen | 0% | 4.25% |
Table 3: MRCB-1651, yearly dividend, dividend yield, and net profit ratio.
Conclusion:
Many investors had complaint that when the market turns downside, they don't have enough time to get out quickly. In fact, with the exception of Limit down, all downtrend needs time to form, and during the process of changing between the end of an uptrend to the beginning of a downtrend, there are specific characteristics, which is a very important aspect for investors to find out. With the skill in spotting these characteristics, there should be enough time for one to react. However, to pick up such skills, it takes years, and therefore, there are no short cut in this learning curve.
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