Thursday, December 22, 2011

Technical Analysis Dec 2011: SUPERMX (7106)


Observation From Chart:-

SUPERMAX is forming ascending triangle.

Will it break through strong resistant, RM3.80?

Other indicator:-
MACD still at positive region, uptrend sign.
MACD bullish touching, pending crossover.
Stochastic %K already trigger BUY call.

It might retest RM3.80 resistance.
If the bull is strong enough, it might break through this level & go higher.

However, strong support at lower triangle line, which is MA50 level.

Will H5N1 bird flu theme make glove maker stock bull run?

Do recall that 1 Nov 2011, SUPERMAX proposed bonus issue of 340,077,440 new Supermax Shares to be credited as fully paid-up on the basis of one (1) Bonus Share for every one (1) existing Supermax Share held on an entitlement date to be determined later.

Let watch closely.



    10% share buy back!

  2. Looking at chart pattern, there is a buy signal.

    Besides, Rolling 4Q Earnings Yield(%) is 8.67% and CU Earnings Yield(%) is 12.46%. This stock is undervalued.