MPHB - Another 1 more round ?

On 2nd Jul, I jumped into MPHB for a short ride (Momentum Play), I got at 3.41 just before she closes. Then I set my target to sell at 3.69 (for a gain of RM0.28). She did reach a high of 3.69, but I did not sell as greed overcome me, plus I saw the buy momentum was still high, so I go for the next resistance 3.82. So   I q every morning, but on 12/Jul, too many things was in my mind, I accidentally q 2.82. Suddenly, I got an alert that my q was done but I dont believe my q was done so early in the morning as yesterday she closes at 3.65. Then I only realise I type wrongly, phew, luckily I did not have so many position and my error q (2.82) was taken up by buyers at 3.65. So, my trade was close with a gain of RM0.24.

Seeing her chart another buy signal has trigger again after she has retraces from 3.72 peak. She is still much in the news of de-merging her Magnum business with the rest of her other business. And the dividend ex date is getting near. So, there may still a last push for her to reach at least 3.72 if not 3.80. Given the Dow and DAX closes badly, around 1% drop, and our KLCI has formed 2 shooting star, this may signal pullback as our CI has been running up for quite a while. So, we may able to get MPHB for a lower price than 20/July closing price 3.67. The stop loss of this trade is below 3.50 but one have to know that the Risk Reward Ratio is not good if we get in at 3.67. So, is up to individual risk appetite on this trade. Just another view, Maybank Investment analyst has selected her as her top picks & give a target price of 3.87 .