Portek   

Portek in MOUs to develop terminals in Russia

Fundamentals remain excellent on Portek, but interested about the technicals.   How is RSI?   Where is support?   Stock off nearly 10% on no news.  

 

Portek has already reached the short term target price on 05 April 2011 to closed at 66.5 cents . It retreated slowly with thin volume to make a minor correction n filled a downside   gap at 63 cents  . During the pull back , it created two gaps at 64 cents n 62 cents respectively . It may go up again to fill these gaps when rebounce .

Bintang      ( Date: 24-Mar-2011 18:37) Posted: Portek broke out of an ascending triangle at 56 cents recently with increasing volume . Directional movement index are positively placed n ADX is rising from 30 .RSI has gone beyond 70 which is in over-bought position . Daily momentum is also rising gradually .  Strong support now is at 56 cents , and the upside target would be 67 cents .

 

Portek has been consolidating within a box formation for sixteen months since Sep 2010 . It broke out of this formation on Jan2011 n went into an uptrend . It formed an ascending bullish triangle during the uptrending process . After breaking the ascending triangle at 56 cents , it went all the way up to 64 cents today with increasing volume . If  to calculate the distance of the box formation  , we may get a very high upside target eventually .

Bintang      ( Date: 25-Mar-2011 17:21) Posted: Portek has already reached 64 cents . Bintang      ( Date: 24-Mar-2011 18:37) Posted: Portek broke out of an ascending triangle at 56 cents recently with increasing volume . Directional movement index are positively placed n ADX is rising from 30 .RSI has gone beyond 70 which is in over-bought position . Daily momentum is also rising gradually .  Strong support now is at 56 cents , and the upside target would be 67 cents .

 

Portek has already reached 64 cents .

Bintang      ( Date: 24-Mar-2011 18:37) Posted: Portek broke out of an ascending triangle at 56 cents recently with increasing volume . Directional movement index are positively placed n ADX is rising from 30 .RSI has gone beyond 70 which is in over-bought position . Daily momentum is also rising gradually .  Strong support now is at 56 cents , and the upside target would be 67 cents .

 

Portek broke out of an ascending triangle at 56 cents recently with increasing volume . Directional movement index are positively placed n ADX is rising from 30 .RSI has gone beyond 70 which is in over-bought position . Daily momentum is also rising gradually .  Strong support now is at 56 cents , and the upside target would be 67 cents .

 

hold up near 2 year record high <54 cents>..53cents....closely monitoring...

 

recently catch my eye is join venture with cwt about russia project n singapore gov going to invest more in indo new..although it is small co.but ..this is the only co. doing port bussiness in sgx

 

Did recent proposed IPO of Hutchinson ports bring some shine to the counter?

 

Any advice on this counter? like trueview mentioned: good yield, net cash. healthy recurring cash flow to pay loan and dividend. 

 

Believe there is new fund mgr accumulating this uncovered gem.

break resistance 45c will continue to go up.. 

 

2 year high .. low volume..chance of 50cent ..

 

link to CWT.....better reason to invest..beside that low PE..good yield...net cash

 

BusinessTimes reported today Portek in MOUs to develop terminals in Russia.

This is good news, share price up 1.5c.