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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.

Tuesday, 12 November 2013

TUNEINS (5230)

TUNE INSURANCE HOLDING BERHAD                                                           SHAHRIZUL  NAZLI
Share Analysis
TUNEINS has been consolidate for about 7 months after the strong rally on May. Since then, the price traded in a range. Volume complimenting the downside  indicates a positive sign that market is already
close to the bottom. It is backed by a rebound of RSI oversold territory. MACD histogram also shown a positive sign where valley has turned from red to green. Rebound is eminent as lower band has been expending.  The best way to trade in rectangle formation is buy on weakness.

Trading Strategy
For aggressive traders may initiate new position with a tight loss below lower line of rectangle formation. Conservative traders can wait for RSI and MACD to move out from oversold area.

Price Projection
Short term          - upside target RM 2.00 (Psychological resistance level)
                          - Stop loss RM 1.78 (Below lower line of rectangle formation)

Medium term     - upside target RM 2.16 (Upper line of rectangle formation)
                         - stop loss RM 1.78 (Below lower line of rectangle formation)
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