TEOSENG – MYR2.12 (Stock Code: 7252)
above: Teoseng Daily Chart (click to enlarge)
TEOSENG made a major Wave 2 low of MYR0.61 (5 May 2014) with grossly oversold and bullish signals. All its positive chart signals above suggest an imminent upward rise. It is likely to break into higher territory, as it breached its key resistances in a very bullish upward Wave 3 and 5 move.
SHORT-TERM BUY (TECHNICAL) on dips for TEOSENG, with firmer supports and clear upward target areas of MYR2.24, MYR2.60 and MYR3.15. Stop-loss is at MYR1.78.
Teo Seng Capital Berhad (TEOSENG) is an investment holding company principally involved in poultry farming. It is also involved in the manufacture and marketing of paper egg trays and animal feeds, along with the distribution ofanimal health products.