ZLBT's Random Stock Picks >>> 20 x Upper Bollinger Breakout Stocks

*Note: To qualify in the breakout list below, the first sorting criteria is stock price must close ABOVE the upper Bollinger Band, followed by a second criteria that trading volume for the day must be significantly higher than the 20-day average volume, which signal a bullish breakout. 

Caveat: We would caution momentum traders that a highly overbought 14-day RSI reading (> 80) and share price pullback BELOW the upper Bollinger Band are early warning signals to exit buy breakout trades.

DISCLAIMER

The information contained herein was obtained from sources believed to be reliable. However, we do not guarantee the accuracy and completeness of the report. Opinions expressed herein are subject to change without notice. This report is for information purposes only and should not be construed as an invitation, offer or solicitation to purchase or sell any futures product referred to herein. The Author may from time to time has an interest or position in the futures products or stocks mentioned. There is a risk of loss in trading stocks, futures & derivatives like products.

 

GOOD LUCK 

Random Stock Picks >>> GENTING / RHB Capital 06 July 2012

Technical comments : Genting Bhd is poised for breakout above the upper Bollinger band (RM9.73) which should lift share price up to RM9.85 (50%FR), RM10.19 (38.2%FR) and even RM10.62 (23.6%FR) in the longer term. Good support is seen at RM9.50 (61.8%FR), reinforced by the lower band (RM9.33).

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Technical Comments : RHB Capital staged a bullish breakout above its upper Bollinger band yesterday, which will boost upside potential to target RMRM8.01 (38.2%FR), RM8.46 (50%FR) and RM8.92 (61.8%FR) going forward. Immediate support will come from RM7.44 (23.6%FR).

HAPPY TRADING

ZLBT Random Stock Pick >>> PERISAI 0047

The price of PERISAI (0047) has increased by more than 4% while trading volume of the last trading day is higher than the average volume over the past 50 days. It is also observed that the MACD line is below the signal line indicating some short-term price weakness. Technical rebounds can lead to further uptrend possibilities.

Perisai need to overcome 90sen (76.4%FR) to enhance upside to the upper Bollinger band (96sen) where profit-taking resistance should be strong. Retracement support is at 82sen (61.8%FR).

We like Perisai as a small cap exposure as net profit is expected to almost triple in this FY before normalising in FY13. As it has long-term contracts for its pipe lay vessel, MOPU and about 50% its marine vessels, earnings visibility is good and stable. Besides, we do not discount the possibility of it acquiring more strategic assets to venture into marginal field activities in the near-term. 

Perisai Petroleum

Recommended BUY on weakness 

Midterm Target >>> RM1.30 

ZLBT Random Stock Picks >>> E&O + L&G

E&O (Code : 3417)

Technical Comments: While E&O shares close above the upper Bollinger band yesterday is encouraging, a confirmed breakout above the7/1/11 high of RM1.38 on strong volume is needed to trigger rally towards RM1.51 (1.236FP), RM1.59 (1.382FP) and RM1.65 (1.5FP), with good support at RM1.25 (76.4%FR).

L&G (Code :: 3174)

Technical Comments : L&G shares look set to recover towards 53sen (76.4%FR) on positive technical momentum, with further strength to meet resistance from the 2/11/10 high of 58.5sen. A breakout would target 64sen (1.236FP), 67sen (1.382FP) and 70sen (1.5FP), while support comes from the 50-day moving average (45sen). 

HAPPY TRADING & GOODLUCK2ALL