DRB-HICOM + VOLKSWAGON MOVE FORWARD

Hi Guys,

I'm looking at DRB-HICOM chart after sahur and see upside gap yesterday.  Checking on acc/dist shows that downturn became stabilised, and +DI &-DI moving upwards.  Stochastic, MACD and GMMA in the right position to go higher.  My intention today to buy at least 2 lots (2000 units) DRBHICOM and keep it at least one week.  If the price clear at 1.14, the the next resistance should be 1.22 and 1.27.  Be sure to put your stop loss in hand to avoid losses. 


The Edge Malaysia

KUALA LUMPUR: DRB-HICOM BHD [] shares advanced on Monday, Aug 16 after the company said it would collaborate with Volkswagen AG (VW) on the assembly and manufacturing of the latter's vehicles in Malaysia at the former's plant in Pekan, Pahang.
At 3.15pm, DRB-Hicom was up nine sen to RM1.15. The stock was also among the most actively traded with 12.45 million shares done.
DRB-Hicom's group managing director Datuk Seri Mohd Khamil Jamil said both parties would jointly plan the production of VW models in Malaysia and this included strengthening VW's existing sales activities and market presence in the country.

Update (22/8/2010)

I just added 3000 units on Friday (20/8/20100 to my existing 2000 units on hold.  I expecting the DRBHCOM price will ticker up next week.  With the strong rebound of KLCI,  i don't see any reversal bearish indicator yet. So I stick to my plan and if DRBHCOM move up to 1.23 on Monday, i will add 5000 units more and ride the paper profit.  Be firm on stop loss, in order to safe your capital and sustain for longer time in stock market.  In this DRBHCOM case, I put my stop loss at 1.11.  When price touch 1.11, i cut loss. TQ



Here the chart.