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.

Sunday 7 September 2014

Dnex - Bullish Breakout


Chart : Dnex daily chart as of Sep 5 2013 (source: ChartNexus)

Dnex (previously known as Time Engineering) broke its horizontal resistance at 34 sen to closed at 36.5 sen with significant volume on last Friday. Some 51.7 Million shares traded which is the second highest for the last 2 years. The counter has tried multiple times for the last 2 years to break this horizontal resistance and finally broke it convincingly last Friday. The impressive Q2 results that saw its earning almost double to RM 3.57 Million from RM 1.8 Million Q2 last year could be the catalyst behind the run. There should be more upside to come.




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