Disclaimer

Disclaimer - I'm too dumb to be an expert thus all the contents of this blog are just my random thoughts and may be incomplete or contain any informational errors. It is certainly not recommendation to buy or sell. You'll be responsible for your own decision. Please consult your investment consultants before making any investment decision. Also the author may or may not have position in the counters that mentioned in this blog.

Monday 18 August 2014

Dnex - Bullish breakout! What about Censof?


Chart : Dnex daily chart as of Aug 18 2014 (source: ChartNexus)

Dnex today rose 3.5 sen or 11.29% to closed at its multi-year high of 0.345 with significant volume. As a result, it broke its strong horizontal resistance of 0.34. The counter has been tried to breakout this resistance for few times for last 3 years thus the breakout today may leads to strong run ahead. It is certainly worth to keep an eye on the stock.


Chart : Censof daily chart as of Aug 18 2014 (source: ChartNexus)

Censof is the major shareholder of Dnex with close to 40% shareholding. The counter has retreated from its peak of 65 sen on November 2013 to consolidate around 47 - 50 sen for the last 6 months. It is interesting to see whether the momentum of Dnex will lift Censof from its current consolidation phase.

Stay Tune!




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