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The charts below show the daily, weekly and monthly technical picture for Bolton Bhd.
Things to note :
TECHNICALLY
- MACD has crossed on all three timeframes,an extremely bullish sign for the stock!
- RSI is signalling a continuation of the rally which started at around 63c in early March
- the intermediate resistance at 73c seems to have been overcome on good volume last Friday, but whether the stock will fall back on profit-taking remains to be seen
- However, the likely targets in the current sentimentally bullish environment are 78c followed by 80c.
FUNDAMENTALLY
-Major shareholders have been buying, with one increasing his stake from 19.95 million to 21.93 million shares lately
-In its latest quarterly report, the company seems to be trading at a 51% discount to NAV, and has a trailing P/E of less than 10.
Finally, the Property Sector is being touted in many analysts' reports these days, and Bolton Bhd is one of the most ignored and undervalued gems in this sector.
Daily chart
Weekly chart
Monthly chart
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