BRDB - stock code 1473

BANDARAYA DEVELOPMENTS BERHAD  sector : properties  price: 1.59

1. Well corrected (68% Fibonacci rebound). 
2. Multiple (different wave scale reading) : Both Elliot immediate and minor wave 'agree'. Think so Elliot minor wave 2 (white numbering) in the making, could end anytime. Bullish wave 3 should come very soon. Elliot immediate bullish wave 3 (blue numbering) could already started.   It need the break out from 1.65 pt, to confirm it is the bullish immediate wave 3 and will go far.

3. Short-to medium term target: 1.70 to over 2.00.

4. Final forget it signal is the collapse of support/pivot 1.33

Below : BRDB daily chart (click to enlarge) 

 Below : BRDB weekly chart (click to enlarge)

More financial data on BRDB http://biz.thestar.com.my/marketwatch/charts/l.asp?code=1473~BRDB&p1=1.62&p2=1.6&p3=1.61&p4=1.56&p5=1.56&p6=-0.06&p7=-3.70&p8=330&p9=0.81

Turning around a conglomerate dec 09

OSK sees BRDB riding on 2011 property up cycle  october09

AmResearch initiates coverage on Bandar Raya with a hold call oct 09

More news on BRDB : http://archives.thestar.com.my/last365days/default.aspx?query=brdb

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SAAG - stock code 9652

Read earlier outlook on SAAG at here: worst over for SAAG?

The final buy set-up (such as micro double bottom pattern or reversal signal didn't materialize), which means for I am not expecting a fast short-term gain.

Other view still maintain:
1. It's already well corrected - obviously oversold. More comfortable to enter.

2.  If  you are looking for super 'cheap sale' stocks, maybe to have one of penny stock  in your portfolio, this could be the one. 

3. The disadvantage is it easy to be manipulated but the profit potential in term of percentage is tremendous. The reward over risk ratio is great.

4. Not exactly a rebound stock after a correction or technical pattern buy but the pivot/support should stay at 0.15 based on my Elliot wave counting. (BTW, Elliot Wave counting is not really suitable for this type of stock)

6. 0.15 pivot level is the final 'forget it' signal. For  early warning signal watch for support collapsing warning at 0.17-0.165

7. SAAG need to break from 0.205 resistance as 'confirmation' signal that it is already
out of the wood and will go very far.

SAAG daily chart (click to enlarge):

Below : SAAG weekly chart (click to enlarge):

Other info on SAAG at thestar

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SUNWAY - stock code 4308

SUNWAY HOLDINGS   sector : construction

Below: Sunway daily chart (click to enlarge):

1. The uptrend from Nov 08 to early Aug 09 already corrected to 38% (also a significant Fibonacci level).  Believe so the correction phase is over and now heading to 1.60

2. Micro double-bottom pattern with higher low. 

3.  Vital support at 1.16 zone. (also a signal zone - if collapsed then forget it))

4. Expecting strong resistance at RM1.60. A strong breakout needed first for higher target.

Last few 'down' days could give good entry price. Reversal from this few down days is a bullish signal. Important for 1.16 support to hold. For early warning watch any weakness in the 1.22-1.20 price zone.

Below: Sunway daily chart (click to enlarge):
 Other info on Sunway at thestar biz

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E&O stock code 3417

Sector: properties

Technical outlook :
1. correction of earlier uptrend (since Jan 09 - wave 1 to 5)  to 61.8% Fibonacci ratio make it strong likely that a new major uptrend is in development.

2. Bullish inverted head&shoulder pattern finalized.

3. Last 3 trading day price action was not that strong and the volume is not that encouraging. Anyway this should create good entry point.

4. Minor resistance at 1.25. Target  near 1.60 or could be well over it (wave counting).  

5. Important to watch for 0.95-1.10 as the vital support/pivot zone. The final 'forget it' signal is 0.86.

Below: E&O daily chart click to enlarge

Other Info on E&O at starbiz http://biz.thestar.com.my/E&O

Recent news:
22/12/09 : E&O to dispose of KL freehold land for RM103m http://www.theedgemalaysia.com/component/content/article/156114.html

5/10/09 Promising prospects for Penang property sector http://www.theedgemalaysia.com/component/content/article/153080.html

7/10/09 : CIMB reiterates trading buy call on E&O http://www.theedgemalaysia.com/component/content/article/150780.html

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