RSI is below 30 and is curling up. Similarly, Stochastic is below 20% and curling up too.
I have inserted the linear regression lines (3 blue parallel lines overlapping the price plots). It shows an uptrend and more importantly the price is now resting on the lower regression line. There is a high probability for the price to move higher from here.
Buyback of Glomac shares is done almost daily since 11th February 2011. This buyback programme provides some support if the price weaken. As at 13th May 2011 it has a total of 2,923,300 treasury shares (0.98% of shares issued). There is mandate for it to buy up to 10% of the issued shares, so there is still plenty of room for it to buyback more.
Currently,PE is about 13, which is fair, and dividend yield is about 5%.
Maybe can buy at around 1.72 or 1.73 and sell when it goes above 2.
Stop loss is suggested to be 1.63
This is my suggestion only and if you use my suggestion to trade the risk is yours. If you make money you can always buy me coffee.
14 comments:
Now this one is what I've been looking for. Would be giving you credits on the way how you deliver this great insight. Such an interesting story.
Because it is trading at lower band and showing good chance of rebounding I have entered at 1.75. We notice the same stock at the same time. Good job bro.
Thanks a lot! The information was very helpful!!!
Nice nice, are there anymore tips? :D
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Good Article
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