Thursday, August 30, 2012

Technical Analysis Aug 2012: BJTOTO (1562)


BERJAYA SPORTS TOTO BERHAD

Observation from Chart:-

BJTOTO succeed break through RM4.40 resistance?
How high will it go?

Other indicator:-
MACD trade at positive region, uptrend sign.
Stochastic %K already trigger BUY call.

High probably it will go higher.

If retrace down, MA20 is immediate support.

Due to huge volume of share buy back (into treasury stock) on August, potential bonus issue / special dividend.

Btw, if we follow the news from The Sun Daily, BJTOTO been proposed 50cent special dividend.
http://www.thesundaily.my/news/453890

Do watch out coming quarter result, which will announce around mid of Sept.
Perhaps the result will kick off the bull run.

Let's watch closely

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