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HAPSENG Triggered BUY Signal



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May 14 2007
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Hap Seng Consolidated (KLSE: HAPSENG, stock-code 3034) today triggered MACD and FinanceTwitter “Buy Signal after the market closing. The bull against bear ratio registered at 2,529 Bulls : zero Bears. Stochastic has just crossed and closed at current value 61 while RSI is at a strong level of 77. Volume has been the strongest registered since the bullish started early April 2007.
Today’s closing at RM 3.36 is above the resistance of RM 3.32 – should the stock price continue to trade and stay above this resistance level, it will be the next strong support level. With continue high volume, Hap Seng could potentially trend higher and this present an investing opportunity for investors.
Hap Seng Consolidated Berhad is engaged in trading of edible oils and food products, property development, wholesale trading of edible oil products, trading in petroleum products, trading in fertilizers and agro-chemicals, providing recreational facilities and services, and fabrication and sales of commercial trailers. It is involved in manufacturing and trading of bricks, operating of stone quarries, and trading in building materials.
Formerly known as The East Asiatic Company (Malaysia) Berhad, this company was listed on the Kuala Lumpur Stock Exchange (now known as Bursa Malaysia Securities Berhad) in August 1978 and was acquired on 7 August 1995 by the Malaysian Mosaics Berhad Group.
Revenue has been growing consistently on uptrend from RM 875 million in 2003 to RM 1.5 billion in 2006. Earning per share (eps) however dropped to 15.02 in 2006 from 23.84 cents in 2005. The same decline registered for ROA and ROE. The P/E (earnings multiple) is currently at a high of 24.90.


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