Dow, so far so good in its wave (V) up trend
HPI Resources, as mentioned in my February 18 post, is a value for money stock, same as FIMA Corp and Latitude Trees. It closed today trading at Rm1.76. Its half year earning is 23.42 sens and net assets is Rm 2.52.Another stock that caught my attention today was Pan Malaysia Corporation Bhd. It used to be a quiet stock but it was actively traded today with 5.7 millions share changed hand.
When I referred to its long term chart, it has a fantastic OBV as shown above. Its price is almost at its bottom and yet its OBV is at its peak. Very strong accumulation.
It is possible that 8 sens is its bottom. It has completed its wave (I) & (II) and sub-wave i & ii
Its 2009 earning per share is -0.17 sen and net assets per share is 45 sens. Its total borrowing is Rm 45 millions whereas its cash deposits with banks is Rm 104 millions. A healthy company. In 2009 it has completed its restructuring exercise and has repaid Rm 176.5 millions of its bank borrowing. It appears that the worst can be over for this stock.
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