Best World – Beware of Reversal

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Best World’s chart is redrawn after issuing Bonus 1 for 5 Shares on July.  There is a dilution effect and thus previous price history were adjusted down. Best World is still trading in a Wedge pattern but today trade see a Doji candlestick, indicates a stop of the recent up trend. Coincidently, this Doji candlestick appears at the resistance of the Wedge pattern. In addition, Stochastic and RSI are in Over Bought region. Base on this observation, there is a tendancy that Best World will reverse the trend and head south in the next few trading sessions.

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Best World – Forming a Wedge

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Best World is forming a Wedge and maybe a Symmetrical Triangle. The chart pattern looks good to trade because it is moving and swinging up and down, unlike certain penny stock that the stock price never move for months! A very safe entry point is somewhere near the wedge support at about $0.30.

If everything goes wrong technically, still can hang on this stock base on the fundamental.

Base on FY2009 Financial Report

  • PE = 7.25
  • Net Margin = 13.3%
  • ROA = 14.8%
  • ROE = 17.9%
  • Current Ratio = 5.1
  • No Debt
  • Dividend Yield = 5% (base on $0.34)
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Best World enters consolidation phase

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Best World is undecisive whether the bull or bear takes charge. Short term it probably goes into consolidation phase where the stock price may move horizontally. Very unlikely the stock price will go up due to dropping in volume.

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