Technics Oil & Gas – A Good Entry Level

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Current Technic Gas & Oil stock price looks like a good entry level both technically and fundamentally.

Technical Analysis 

  • The stock price broke out from a Falling Wedge with a price target of $0.63.
  • The stock price came back to test the Falling Wedge previous resistance and rebounded from this resistance turned support level.
  • Since then, the stock moves above 20D, 50D and 200D MA and stay above 78.6% FR support.
  • A “higher high, higher low” up trend chart pattern is observed. 

Fundamental Analysis (Base on latest quarter financial performance) 

  • Increasing Net Operating Cash Flow
  • Dividend about 4.8% (base on $0.57 stock price)
  • ROA = 14.9 (Annualised)
  • ROE = 32.1 (Annualised)
  • Order Book stands at $82 million.
  • Management expect better FY2010 than FY2009 base on current order book and project schedule.
  • Company shares buy back recently between $0.565 and $0.57 these few days.
  • PE = 12.89 (base on $0.57 stock price) versue 2008 PE of 20.6 and 2007 PE of 26.4
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Capitaland – Testing an Important Support

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Capitaland is current testing an important support at about $3.63. This support is very significant because it holds very well for the past 5 times (shaded in blue). Currently Capitaland is going to test this support again for the 6th time after fails to break and bounces back from 20D MA resistance (shaded in red). On another hand, Capitaland has shown a “lower high, lower low” bearish chart pattern.

  • The next immediate support after $3.63 will be $3.402 (61.8% Fibonacci Retracement Level).
  • The next important resistance is $3.854 (78.6% Fibonacci Retracement Level) which has been proven to be a strong resistance to break from the previous 5 occassions. In addition, this 78.6% FR level will also be the 50D MA and 200D MA.
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