MBSB- uptrend to continue
MBSB has just surpassed its recent high of RM1.35. This could signal the continuation of its prior uptrend. Its immediate resistance would be at RM1.60 & then RM1.70.
Chart: MBSB's weekly chart as at July 19, 2010_10.00am (Source: Quickchart)
Recently, MBSB reported a very good set of results for its 1Q2010 (QE31/3/2010). Its net profit jumped to RM43.2 million from RM5.8 million last year, while turnover increased to RM279 million from RM104 million. The better performance was attributable to growth in the personal financing business. Based on this set of results, its annualized EPS for FY2010 would be about 24.7 sen. At RM1.38, MBSB is trading at a PER of 5.6 times.
Based on the above, MBSB could be a good trading BUY. In view of the uncertainty in the overall market, you need to exercise your discretion on trading activity at the present moment.
Chart: MBSB's weekly chart as at July 19, 2010_10.00am (Source: Quickchart)
Recently, MBSB reported a very good set of results for its 1Q2010 (QE31/3/2010). Its net profit jumped to RM43.2 million from RM5.8 million last year, while turnover increased to RM279 million from RM104 million. The better performance was attributable to growth in the personal financing business. Based on this set of results, its annualized EPS for FY2010 would be about 24.7 sen. At RM1.38, MBSB is trading at a PER of 5.6 times.
Based on the above, MBSB could be a good trading BUY. In view of the uncertainty in the overall market, you need to exercise your discretion on trading activity at the present moment.
Date: 2010-07-19 10:25:00
Source: MBSB- uptrend to continue
URL: http://nexttrade.blogspot.com/2010/07/mbsb-uptrend-to-contin...
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