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Disclaimer :We shall not be liable for any direct or consequential loss arising from any use of material contained in this publication. The information contained in this report is based on data obtained from sources believed to be reliable and opinions formed are from belief of the individual author. The Publication should not form basis to be relied upon in decision making. Any future outlook,forecasts or any future interpretation are in no event guaranteed and are merely opinions and views of the author.

Monday, 18 November 2013

GOB (1147)

GLOBAL ORIENTAL BERHAD                                                                             SHAHRIZUL NAZLI


Share Analysis
GOB has been in a consolidation phase for about 6 months after  big rally in May. Medium term uptrend line has been penetrated indicates that further consolidation can be expected. However, price still hovering above
Fibonacci 50% level  means that uptrend is still strong. RSI and MACD hovering in oversold territory specify that GOB still undervalue.  The price already reach lower band of Bollinger, hence technical rebound is imminent. 

Trading Advice
High risk traders is recommended to ride the expected technical rebound earlier. Set a stop loss slightly below Fibonacci 50% and its previous highs as an upside target.

Price Projection
Short term          - Upside target RM 0.875 (Peak B)
                          - Stop loss RM 0.70 (Slightly below Fibonacci 50%)

Medium term    - Upside target RM 0.945 (All time high/ peak A)
                        - Stop loss RM 0.70 (Slightly below Fibonacci 50%)
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