Technical Buy - KOBAY

Trading Idea - KOBAY TECHNOLOGY BHD (stock code 6971)

● Target Price RM1.30
● Last closing price RM1.12
● Potential return 16.0%
● Support RM1.05
● Stop Loss RM0.950

 Possible upside. KOBAY is showing signs of recovery from recent major pullback. Improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term. Should resistance level of RM1.13 be genuinely broken, it may continue to lift price higher to subsequent resistance level of RM1.30. However, failure to hold on to support level of RM1.05 may indicate weakness in the share price and hence, a cut-loss signal.

source: PublicInvest Research -  18/04/2018

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Malaysia Technology Stocks: Be Selective

We expect local tech companies, particularly those with high sales exposure to US smartphone brands, to deliver strong report cards from 2Q17 onwards. This could include upstream testing equipment players such as MMSV and Elsoft in 2Q17, followed by OSAT vendors from 2H17. However, given the sharp share price run-up within the sector, we advocate investors stick to companies with multi-year growth legs while the near-term good results provide trading opportunities in small-cap companies. Maintain OVERWEIGHT. Top pick: Globetronics.

WHAT’S NEW
 ■ Local supply chain for US smartphone brand is poised to record strong earnings from 2Q17 onwards... The much anticipated launch of a new-generation smartphone by a US premium brand in 3Q17 is expected to have the relevant Malaysian testing equipment makers and outsourced semiconductor assembly and test (OSAT) providers reporting a strong set of results from 2Q17 onwards. Particularly, players that have high revenue exposure to this US end-client due to their sole supplier positions, such as upstream LED-related testing equipment makers MMS Ventures (MMSV MK, non-rated) and Elsoft (ELSR MK, non-rated), are expected to record superb results in 2Q17. OSAT vendor Globetronics (GTB MK, BUY) is on track to record strong earnings growth in 2H17 due to its sensor products. Inari, which has a dominant position on RF, is also expected to see a stronger 2H17.
 ■ ...despite rumours of a potential delay in the availability of the OLED screen model. Market consensus expects the US smartphone brand to stick to the traditional launch period of September for the roll-out of its three new flagship models (4.7-inch screen, 5.5-inch screen and 5.8-inch OLED screen) but some believe that there will be limited availability for the OLED model or a delay till mid-October/November (due to a delay in OLED production ramp-up). Despite the potential of a slight delay, we do not expect this to have an earnings impact on the relevant Malaysian vendors. Upstream players have delivered a majority of the orders in 2Q17 while certain OSAT players are loaded with more-than-expected orders and capacity expansion is on the way.

ACTION
 ■ Maintain OVERWEIGHT. Top pick: Gloebtronics. Local technology companies recorded a very nice share price run-up ytd (see overleaf side bar), with much of the rally fairly reflecting their outlooks. Among Malaysian vendors for the US smartphone brand, we see trading opportunities for the small-cap testing equipment makers on anticipation of the good upcoming quarterly results. Over the longer-term, we prefer OSAT companies which have more stable earnings with multi-year growth legs. Valuation-wise, OSAT companies are more attractive after the small-cap companies’ sharp run-up. Maintain OVERWEIGHT on the sector. Top picks: Globetronics.

ESSENTIALS
 ■ MMSV’s good results over the near term could provide trading opportunities. MMSV, which derives about 50% of its revenue from the smartphone segment, is expected to achieve 20-30% revenue growth in 2017, mainly on the back of its customised LED visual inspection solutions for its US end-client’s upcoming new smartphone models. Given that second quarter is seasonally stronger for the smartphone segment and the new testing equipment fetch higher selling prices, MMSV is poised to deliver one of its best quarters (if not the best) in 2Q17 (historical peak was in 2Q16 which reported RM20m revenue with RM5.7m net profit). Management shared that its existing margin is sustainable in 2017. This implies MMSV trades at 20-21x 2017F PE, on the assumption of 20-30% sales growth. While its valuation is not particularly attractive, its good results for the near-term could trigger trading opportunities.
 ■ MMSV: Expecting a weaker 2H17, dragged by non-smartphone segment. MMSV’s 2H17 could be weaker hoh due to the absence of orders from the more lucrative smartphone segment. MMSV’s other key areas of exposure are to the automotive, general lighting and semiconductor industries, which each made up 21%, 7% and 13% of its 2016 revenue respectively. While we are positive on MMSV’s automotive segment, but its revenue growth is lower than that of its smartphone segment due to a slower replacement cycle and a longer qualification period.
 ■ Globetronics: Stronger 2H17. Globetronics is ramping up its production volume on new light and gesture sensor products and is planning a Phase 2 capacity expansion to meet end-clients’ demand. We expect a strong net profit CAGR of 76% in 2016-19, and there could be potential earnings upside in 2018-19 due to: a) commercialisation of products under development (particularly 3D imaging sensor); and b) strong demand for gesture sensors (due to end-client’s bundling strategy). We expect Globetronics’ 2Q17 net profit to improve but it will still be an unexciting quarter as the light sensor’s mass production only started in June and loading volume is yet to normalise. We estimate 2Q17’s net profit to be in the range of RM7m-8m (1Q17’s RM6.0m, 2Q16’s RM5.5m) but will improve to
RM20m-25m per quarter in 3Q-4Q17.
 ■ Testing equipment makers’ earnings visibility is less predictable. Overall, we view that the earnings outlook for equipment players (with high concentration of a few key clients) is uncertain compared to OSAT’s. The outlook is highly dependent on whether the end-clients would need to replace existing equipment or simply need modifications on existing equipment to support new product launches. Testing equipment makers typically
have 3-4 months of order visibility.

source: UOBKayHian 10th July 2017

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JCY – Trading Buy

JCY Target Price RM0.71.

JCY Daily Chart (click to enlarge):

JCY saw its share price climbing 2.5 sen (4.03%) to close at RM0.645 on strong trading volume. The bullish price action yesterday has led the share price to break out from its 1.5-month consolidation phase while settling above all its key SMA trend lines. MACD line is looking to stage a bullish crossover above its signal line to lend a hand on the bullish-bias outlook ahead, while positive uptick in daily RSI is indicating improved buying interest on the stock. From here, we reckon the immediate-term outlook to be biased to the upside, where a swift recapture of the immediate resistance level of RM0.655 (R1) would see the stock gear towards our target price objective of RM0.71 (3 bids below our measurement objective of RM0.725 (R2)). Key support levels to note are RM0.62 (S1)/RM0.58 (S2), where our conservative stop-loss level is placed at RM0.595 (3 bids below S1).

source: Kenanga Research – 14/3/2017

JCY INTERNATIONAL BERHAD
The company currently engaged in business of design and development of hard disk drive (HDD) and other technology-related activities.

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Unisem Rebounded

UNISEM  Stock Code: 5005   Target  price  of  MYR2.20
above: Unisem Daily Chart

Unisem  rebounded  to  test  the  MYR1.95  level  in  its  latest  session. Traders  may  buy  if  this  level  is  breached  in  the  near  term,  with  a target  price  of  MYR2.20.  In  the  meantime,  the  stock  may consolidate  further  if  the  MYR1.95  level  cannot  be  surpassed. Support  may  then  be  found  at  MYR1.73,  where  traders  can  exit upon a breach.

by RHB Securities

UNISEM (M) BERHAD
The Company is involved in manufacture assembly and packaging of integrated circuits and other semiconductor devices.

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Priva – Technical Trading

Privasia Technology Bhd – Stock Code 0123

Privasia Technology Bhd offers information technology outsourcing, auction software, and information technology consulting services. The Company offers information technology, desktop, applications, business process, and procurement outsourcing services; software that allows buyers and sellers to post their needs online; and consulting and systems integration services.

Our medium (3-6 months) term target price for PRIVA is RM0.58 hence offers an upside potential of around 38.1% from current level.

Priva Weekly  Chart

by AffinHwang Capital

PRIVASIA TECHNOLOGY BERHAD
The Company an information technology company is mainly involved in IT outsourcing and IT consulting.

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Technical Buy On Elsoft

ELSOFT – MYR1.90 (Stock Code: 0090)

Recommendation

ELSOFT made a minor daily Wave 4 low of MYR1.64 (18 March 2015) with grossly oversold and bullish signals. All of its positive signals above suggest a very strong daily uptrend. It is likely to break into higher territory, as it breached its key resistance areas in a very clear Wave 5 surge.

SHORT-TERM BUY (TECHNICAL) on dips for ELSOFT with very firm supports of MYR1.65 and MYR1.90 as well as clear upward target areas of MYR2.00, MYR2.19 and MYR2.85. Stop-loss is at MYR1.63.

Elsoft Research Berhad (ELSOFT) researches, designs, and develops test and burn-in systems and applications specific systems. The company's products and services include advanced electronics system design, systems software engineering and algorithm development, and optoelectronic/semiconductor parametric testers.

by Maybank IB

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ELSOFT –Trading Buy

Elsoft Research Bhd. (stock code 0090) researches, designs, and develops test and burn-in systems and applications specific systems. The Company's products and services include advanced electronics system design, systems software engineering and algorithm development, and optoelectronic/semiconductor parametric testers.

Our medium (6-12 months) term target price for ELSOFT is RM2.65 hence offers an upside potential of around 53.2% from current level.

by Affin-Hwang Capital 23/02/15

ELSOFT RESEARCH BERHAD

The Company was incorporated in Malaysia under the Companies Act 1965 on 4 June 2003 as a private limited company under the name of Elsoft Research Sdn Bhd. The Company is principally involved in research design and development of test and burn-in systems and application specific embedded systems.

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MMSV – Short-Term Buy

MMS Ventures BHD – MYR0.56 (Stock Code: 0113)

  (Bloomberg Code: MMSV MK Equity)

above: MMSV Daily Chart (click to enlarge)

Recommendation

MMSV made a minor Wave 2 low of MYR0.175 (6 May 2014) with grossly oversold and bullish signals. Most of 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 MMSV, with firmer resistances and clear upward target areas of MYR0.59,MYR0.82, MYR0.94 and MYR1.20. Stop-loss is at MYR0.45.

MMS Ventures Berhad (MMSV) is a holding company. Through subsidiaries, it manufactures industrial automation systems, designs die sets, jigs and fixtures, and develops computer software.

by MIB

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Malaysia Technology Sector: Reiterate POSITIVE

Expecting pent-up demand for GST-compliant software

HIGHLIGHTS

•  Slow take-up in GST registration and implementation despite government incentive of RM1,000

•  Government has reiterated that there will be no deferment in implementation of GST

•  Potential market size for GST-compliant software in Malaysia is approximately RM1.7b

•  Listed companies which provide GST-compliant software expected to record bump in sales for the period 4QCY14 and/or 1QCY15

Slow take-up in goods and services tax (GST) registration. Despite the application deadline is drawing near, we are of the view that businesses do not seem to be in a hurry to register for the eventual implementation of the GST scheme. It has come to our understanding that only 5%* or 15,000 out of the estimated 300,000 companies have registered with the Royal Malaysian Customs Department (RMCD) for the implementation of GST. Of the companies which have registered, 80% are from the small and medium-enterprise (SME) segment. Nonetheless, various media sources indicated that the government targets 123,000 companies to be registered by year end.

E-voucher incentive from the government. According to the RMCD, one of the reasons for the delay in registration was due to the market perception that the software upgrade is too expensive to implement. In order to increase the take-up rate, the government, through SME Corporation Malaysia, has announced that it will provide an incentive of RM1,000 per qualified SME (Refer to table 1) in the form of e-vouchers. The government has allocated RM150m for the GST e-voucher scheme. This implies that the government is targeting approximately 150,000 (RM150m ÷ RM1,000) SMEs to register for the GST. However, response has been disappointing as only 1,321 applications were made. Of this, only 714 applicants have been approved by the RMCD.

Table 1: Summary of qualification requirement set by the authorities

Time is ticking. Datuk Subromaniam Tholasy, GST director from RMCD, has expressed his concerns over the delay in registrations. Datuk Subromaniam further elaborated that the SMEs may need at least three months to upgrade to the GST-compliant system which is slated for implementation on 1 st April 2015. The RMCD also reiterates that there will not be any leniency for late adopters. Recall that the deadline for mandatory registration is 31 st December 2014.

A sizeable market worth a potential RM1.7b. In general, a typical software upgrade would cost somewhere within the range of RM2,000 to RM10,000. Assuming a median software cost of RM6,000 and considering that approximately 285,000 companies have yet to register, software vendors can expect a sizeable order book of approximately RM1.7b to be booked either by 4QCY14 and/or 1QCY15. Our initial check on the official website of RMCD indicates that there are more than 100 authorized accounting software vendors that SMEs can choose from. From the list, we have identified six software vendors which are owned by five listed entities (Refer to Table 2).

Table 2: Potential listed entity beneficiaries

Trading opportunities. As the deadline draws nearer, we are expecting the software vendors to enjoy brisk sales in anticipation of pent-up demand for the GST-compliant software. This would help to drive higher top- as well as bottom-line growth in 4QCY14 and/or 1QCY15. In turn, it could translate into better share price performance hence there may be short-term trading opportunities in the shares of these software vendors.

by MIDF

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Dsonic – Short-Term Buy (technical)

DSONIC – MYR3.60 (Stock Code: 5216)  (Bloomberg Code: DSON MK Equity)

above: DSONIC weekly chart (click to enlarge)

All  DSONIC  positive  signals  above  suggest  a  very  strong  weekly  Wave  3  and  5  up-trend.  DSONIC  has  very firm support and clear upward target areas of MYR3.78, MYR4.78 and MYR5.98. Stop-loss is at MYR2.94.

DSONIC made a major weekly Wave 2 low of MYR0.52 (Jul 2013) with grossly oversold and bullish signals. All its positive signals above  suggest  a  very  strong  weekly  Wave  3  and  5  up-trend.  It  is  likely  to  break  into  higher  territory,  as  it  breached  its  key resistance areas in a very clear upward weekly Wave 3 and 5 move. Short-term buy on dips for DSONIC with firmer support and
clear upward target areas of MYR3.78, MYR4.78 and MYR5.98. Stop-loss is at MYR2.94.

DSONIC  recently broke  above  the  MYR2bn  market  capitalisation  since  our  last  weekly  write-up  in  Nov  2013  when  the  market capitalisation  broke  above  the  MYR1bn.  The  strong  rise  in  the  stock  can  be  attributed  to  investor  optimism  on  its  future earnings  potential  post  its  share-split  exercise.  Its  major  source  of  revenue  is  the  supply  of  smart  cards  and  consumables, which contributed the majority of the group’s revenue.

The  company  is  expected  to  announce  it  4QFYE2013  results  soon.   Looking  at  its  3Q14  results,  DSONIC  continues  to  record strong revenue and profit growth for the same period year on  year which can be seen from the table below. According to the company,  the  improved  profitability  was  attributed  to  effective  cost  control  measures  instituted  by  management  and  higher revenue.

On  28  Feb  2014,  DSONIC  had  proposed  a  1-for-1  bonus  issue  of  675  million  shares  of  10  sen  each.  The  date  has  yet  to  be determined and will be announced later.

Maybank-IB does not have fundamental coverage of DSONIC. A check of Bloomberg consensus reveals that just one broker has coverage on the stock, with a BUY call. The stock is currently trading at a high historical PER of 38.7x and a P/BV of 15.7x.

 Datasonic  Group  Berhad  (DSONIC)  provides  ICT  Solutions.  The  company's  solutions  include  smart  card personalization such as secure ID or chip-based credit/debit bank cards.

by Maybank IB

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Weekly Chart - GHLSYS

GHLSYS – MYR0.655    SHORT-TERM BUY (TECHNICAL)

(Stock Code: 0021)  (Bloomberg Code: GHLS MK Equity)

below: GHLSYS Weekly Chart (click to enlarge) GHLSYS made a major weekly Wave 4 low of MYR0.31 (Aug 2013) with grossly oversold and bullish signals. All its positive signals above suggest a strong daily Wave 5 uptrend. It is likely to break into higher territory, as it breached its key resistance areas in a clear upward Wave 5 move (of a larger “Flat” rise). Short-term buy on dips for GHLSYS, with very firm supports and clear upward target areas of MYR0.69, MYR0.76 and MYR1.03. Stop-loss is at MYR0.50.

GHLSYS  recently  made  headlines  by  making  a  proposal  to  acquire  e-Pay  Asia  Limited,  a  company  that specialises in electronic payment.  Based on its  announcement to Bursa, GHLSYS intends to acquire all of the shares in e-Pay Asia Limited, a public company listed on the Australian Securities Exchange.

 
GHLSYS announced its  2QFY13 results in  August. Net  profit after tax rose  32% YoY as profit from continuing operations  net  of  tax  was  MYR1.55m  in  2QFY13  compared  to  MYR1.17m  in  2QFY12.  The  one-off  gain recorded in that period 2QFY12 was attributed to the disposal of the group’s China operations. This resulted in an additional profit of  MYR0.448m in  2QFY12  which showed a higher EPS.  Excluding  the one-off disposal gain, the higher profitability is in line with the 22% YoY increase in revenue for 2QFY13.

A check  of   Bloomberg consensus reveals that  only  one  research house has coverage on  GHLSYS,  with a BUY call. The stock is currently trading at a historical PER of 18.8x and a P/BV of 2.1x

GHL  Systems  Berhad  (GHLSYS)  provides  online  transaction  services  with  an  emphasis  on  payment  and transaction processing. It also deals with electronic draft capture (EDC) equipment.

by Maybank IB

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Short-term Buy On Inari

INARI – MYR1.22    Stock Code: 0166  (Bloomberg Code: INRI MK Equity)

above: Inari Weekly Chart (click to enlarge)

INARI made a major  weekly Wave 2 low of MYR0.37 (Mar 2013) with grossly oversold and bullish signals. All its positive signals above suggest a strong daily Wave 3 and 5 uptrend. It is likely to break into higher territory, as it breached its key resistance areas in a clear  upward Wave 3 and 5  move. Short-term  BUY  on dips for INARI, with very firm supports and clear upward target areas of MYR1.28, MYR1.45 and MYR1.80. Stop-loss is at MYR0.98.

INARI announced  its  4QFY13 results in August. The group’s profitability rose significantly as revenue surged 61.9%  YoY  to  MYR67.7m  from  MYR41.8m  FY12]  while  profit  before  tax  (PBT)  rose  252.6%  YoY  to MYR13.4m from MYR3.8m  over the same period. The strong rise in profitability was attributed to increased orders from the group’s major customer,  resulting in  greater  utilisation of its  production capacity. Other factors contributing to the  significantly better  bottom line  were  higher trading volume, favourable gold prices and  a strengthening US Dollar.

Going  forward,  INARI  expects  rising  dem and  to  contribute  positively  to  its  outlook,  as  demand  for  smart phones  and tablet computers is  expected to register double-digit growth in the near  term. Furthermore, INARI expects  that  their  recently  completed  acquisition  the Amerton  Group  to  contribute  positively  to  its  financial performance from FY14 onwards.

A check of  Bloomberg consensus reveals that only one research house has coverage of the stock, with a BUY call. The stock is currently trading at a historical  PER of 10.5x  and P/BV  of 3.5x. INARI  has a good indicative 12-month dividend yield of 3.6%.

Inari  Amertron  Berhad  (INARI)’s  products  and  services  include  back-end  wafer  processing,  package assembly, and RF final testing for the electronic and semiconductor industries. It  also provides services for the wireless communications industry.

by Mayban IB

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ITRONIC - Watch For A Decisive Breakout

Highlights:  Industronics ("ITRONIC") Stock  Code 9393

below: INDUSTRONICS BHD daily chart (click to enlarge)

It wasn't all doom and gloom for the local bourse,  and among the bright spots was ITRONIC which has been bucking the overall market selldown in the past month. For the January month, ITRONIC almost doubled from its  lows of 28.5 sen. In fact, the share price ended 5.5 sen higher at 59.5 sen yesterday. This comes after a brief single-day pause in the month long rally. With yesterday's strong move, ITRONIC is now within a whisker of the long term resistance line. Buying momentum in the share remains strong, although the 14-day Stochastic and RSI indicators have both entered into overbought regions.

We reckon that some near term consolidation is due. Nevertheless, traders should watch for a decisive breakout above the 60 sen resistance level which would potentially herald thestart of the next up-leg 65 sen and 75.5 sen.

by Kenanga Research

The principal activities of the Industronics Bhd include the design, manufacture and installation of electronics and microprocessor controlled products, telecommunication equipment supply and services, AV multimedia systems, intelligent transportation systems and major system integration projects involving Information Communication Technology.

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Stock Trading Buy – JCY

JCY International Bhd (stock code 5161) Technology – RM0.835

e above: JCY daily chart (click to enlarge) 

JCY’s share price took a tumble earlier and had since consolidated into a vague reverse head and shoulder formation. Currently, it is forming the right shoulder of the potentially bullish pattern with an implied price target of RM0.90. Its technical indicators have also recovered from bearish tendencies and are on the rise.

The level to watch out for is the RM0.84-0.865 resistance band, where the share price is expected to face some selling pressures from profit taking activities. Nevertheless, the overall technical outlook is positive and we are calling a Trading Buy on JCY.

by Mercury Securities

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Unisem Technical Trading Buy

Unisem (M) Bhd (stock code 5005) –Technology – RM1.49
Unisem’s candle made a strong breakout of its long-term downtrend line as well as the RM1.50 level and tested the RM1.55 yesterday. The strong run-up also allowed the candle to breach its congestion band at around the RM1.35 Its  indicators are also on the rise, suggesting further upsides, but yesterday’s surge may prompt a consolidation. 

above: Unisem Daily chart (click to enlarge)

Therefore, the stock is also worth a buy if it takes out the RM1.55 sen in the near term, otherwise it would be wise to wait for the consolidation to take its course first. There is support at RM1.33 with the strong support at RM1.30. The resistance, meanwhile, is at RM1.60

by Mercury Securities

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Trading Buy – Eng Tecknologi

Current Stock Review – Eng Teknologi Holdings Bhd (stock code 8826)–Technology sector –RM1.69.

Above: Eng Teknologi daily chart (click to enlarge) 

Chart wise
EngTeknologi’s share price is forming a double bottom,having found its support at RM1.43 that repelled  two  selling  waves.  It  had  also  broken  through  the overhead  resistance line  while  its technical indicators are on the move again towards the upside.

The  preliminary  target  is  RM1.85-1.90,  although  a failure to  penetrate  the  immediate  RM1.72 resistance may see the share price making a retracement to the RM1.43support to form multiple bottoms. Nevertheless, its rising indicators portends of better technical outlook for Eng Teknologi.

by Mercury Securities

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Technical Trading Buy – JCY

JCY International (KLSE Stock Code 5161) – Technology – RM0.76.

above: JVC International Daily Technical Chart (click to enlarge)
 
Chart wise:
Trending along an up-trend, JCY is riding on a bullish momentum accompanied by a rising MACD and RSI that has been staying above the 50-point neutral line. JCY, is a company that manufactures Hard Disk Drive (HDD) mechanical components.  Although it is facing some resistance at the upper boundary of the channel, the upside potential is still good, so long the trend line is maintained.  A trading buy.

by Mercury Securities

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Eng Teknologi Technical Analysis

Trading Buy – Eng Teknologi Bhd   (RM1.48) Bursa Malaysia Stock Code 8826

Eng Tek‘s share prices dipped sharply over the past week after the company operation was affected by the Thailand flood. The daily candle broke through the RM1.60 strong support and hasrebounded after hitting a low of RM1.43. The stochastic oscillators are oversold, as with the RSI indicator.

The MACD remains negative, but is decline has abated and now points to a technical rebound.The immediate resistance is the RM1.60 level. The next support is at RM1.43. With the impendingtechnical rebound there could be trading opportunities for risk takers. We recommend a Tradingbuy.  Beyond RM1.60 is the RM1.75 resistance.

by Mercury Securities Dated 28th Ocktober 2011

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MTOUCHE : Technical Look to moved toward RM0.30

Chart wise : In position to move towards RM0.30……………
MTouche (Stock Code 0092) had on 17/5/2010 crossed over RM0.26 hurdle to a higher day high of RM0.275 before settled at RM0.265. 

Next Potential Upside Target : With the upside violation of RM0.26 level, MTouche  would thus be likely to trade upward with an immediate upside target at RM0.30. 

Entry Level : Risk taking traders may establish buying position at RM0.25 as a small pull back is seen likely before resuming its upward move.

Stop Loss Level : Once a buying position is being established, a stop loss level at RM0.23 level
must be placed for risk capital protection purpose followed by trailing stop loss strategy.

above: MTouche chart (click to enlarge)

by Mercury Securities

The principal activities of the Company are investment holding, research and development of existing and new technologies in the field of information technology and telecommunications, and distribution and sale, installation and service of telecommunications and multimedia systems, and related activities. The principal activities of the subsidiaries are provision of mobile messaging technology services.

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GPACKET Stock Code 0082 technical view

Chart wise : Selling pressure…….
GPacket had on 4/5/2010 traded higher to a day high of RM1.09 before settled at day low RM0.96.

Price Direction ….. 
In view of  an increase  in market participation, the stock could be expected to trade sideways in coming day(s) with an overhead resistance pegged at RM1.10. 

What to watch for …. 
A turnaround of prices to close above RM1.10 level would likely see an immediate short term reversing direction in the stock.

above: Gpacket Daily chart (click to enlarge)

by: Mercury Securities

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