Gamuda: Breaking Resistance.
Chart 1: Gamuda (14/10/2009～07/04/2010)
Since breaking above the 14, 21, 31 EMA on the 23rdof March, price of Gamuda has been rising gradually, while the 14, 21, 31 EMA continue serving as the dynamic support. This suggests that the technical outlook for Gamuda is positive. As indicated by A, price of Gamuda broke above the RM2.94 level.
Technically, RM2.94 is the immediate support and in order to sustain this uptrend, price has to stay above the RM2.94 or the 14, 21, 31 EMA. And for traders who are holding Gamuda's share, it is a good idea to hold as long as the dynamic support remains intact. If price should break below the 14, 21, 31 EMA, it would be a signal to take profit or to cut loss.
As for traders who are looking to buy, an ideal entry position would be a rebound near the dynamic support, and preferably with strong volume, and after buying, the 14, 21, 31 EMA shall be applied as the trailing stop reference. Next resistance for Gamuda is at RM3.05 level followed by RM3.35.
| 4 Q Rolling PER | 26.89 times | Dividend Yield | 2.71% |
| Dividend | Dividend Yield | Net Profit Ratio | |
| 31/03/2009 | 8 sen | 2.38% | 7.10% |
| 31/03/2008 | 25 sen | 9.26% | 13.52% |
| 31/03/2007 | 46 sen | 5.90% | 12.23% |
| 31/03/2006 | 16sen | 4.57% | 13.72% |
| 31/03/2005 | 16sen | 3.43% | 17.26% |
Table 1: Gamuda, yearly dividend, dividend yield, and net profit ratio.
Ranhill: Forming a Higher-Low.
Chart 2: Ranhill (08/12/2009～07/04/2010)
As shown on chart 2, after rebounding from RM0.74 level, price of Ranhill managed to break above the 14, 21, 31 EMA, and later formed a Higher-low above the 14, 21, 31 EMA. As indicated by A, price of Ranhill breaks above the RM0.82 resistance level with strong volume, but later retreated due to profit taking. However, as indicated by B, as price retreated, volume decreased significantly, suggesting that the selling pressure was mild.
Technically, if price should remains supported by the 14, 21, 31 EMA, the uptrend is still intact, and the most ideal uptrend would be another rebound above the 14, 21, 31 EMA with strong volume. For the mean time, traders should apply the 14, 21, 31 EMA as the trailing stop reference, and provided that price is still supported by the rising 14, 21, 31 EMA, it is fine to hold. If price should break below the 14, 21, 31 EMA, it would be a signal to take profit or to cut loss. Next resistance for Ranhill is seen at RM0.90 level.
| 4 Q Rolling PER | 2.03 times | Dividend Yield | 1.20% |
| Dividend | Dividend Yield | Net Profit Ratio | |
| 30/06.2009 | 1 sen | 1.1% | 10.29% |
| 30/06.2008 | 0sen | 0% | -36.75% |
| 30/06.2007 | 0sen | 0% | 7.92% |
| 30/06.2006 | 1.5sen | 1.16% | -0.89% |
| 30/06.2005 | 1.5sen | 1.19% | 2.22% |
Table 2: Ranhill, yearly dividend, dividend yield, and net profit ratio.
Revision of last week's case study: Muhibah.
Chart 3: Muhibah (1/12/2009～31/03/2010)
As shown on chart 3, price of Muhibah consolidated above the 14, 21, 31 EMA for about 1 week. As indicated by A, it broke above the RM1.07 with strong volume as indicated by B, suggesting some strong buying interest to off set the profit taking selling pressure.
Technically, it is now moving in uptrend with the 14, 21, 31 EMA serving as the dynamic support. In other words, provided that the price is still supported by the 14, 21, 31 EMA, the uptrend shall remain intact, and if price should break below the 14, 21, 31 EMA, it would be a signal to cut loss, or to take profit.
Next resistance for Muhibah is seen at RM 1.17 level, while the support are at RM1.07 followed by the RM1.00 psychological level.
| 4 Q Rolling PER | 27.87 times | Dividend Yield | 2.45% |
| Dividend | Dividend Yield | Net Profit Ratio | |
| 31/12/2009 | 2.5 sen | 2.72% | 0.64% |
| 31/12/2008 | 2.5 sen | 2.53% | 1.02% |
| 31/12/2007 | 4.5 sen | 1.20% | 4.94% |
| 31/12/2006 | 7.5 sen | 2.88% | 3.06% |
| 31/12/2005 | 4 sen | 5.76% | 2.68% |
Chart 3: Muhibah, yearly dividend, dividend yield, and net profit ratio.
Conclusion:
In a healthy uptrend, price should have a consolidation or a mild correction after each rally. While during correction or consolidation, volume should not be too high, therefore, to imply that the selling pressure or profit taking is not too strong. Therefore, when price rebound from the 14, 21, 31 EMA again, there is a better chance for the uptrend to resume; and when the price should rally again, the best confirmation would be a strong volume. In short, an experienced trader should not worry about taking profit too quickly, provided that the uptrend is supported with the above mentioned criteria.
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