In one of the earlier posts (see this ), Malaysian-listed printing specialist, Tien Wah Press Holdings Berhad was one of the illustrative “buy signal” results extracted based on rules-based algorithmic screening process. Let’s dig deeper into this security.
Strictly for illustration – the following chart shows an upward price trajectory supported by both a well-defined support line as well as uptrending 200D-MA. Further, the oversold position (as indicated by RSI) may possibly support the price trajectory. It may be opportunistic to consider a pull-back entry for this particular security. I would personally consider a possible stop loss at $1.75, whilst setting a possible profit target at $2.15.
Based on Z-score, the last buy signal (<-2.25) was triggered back on 7 June 2017 whereby the security has experienced a significant drop in share price. This signal was the very first buy signal that has been recorded so far in year 2017.
One needs to be mindful of Tien Wah’s challenging business environment as summarised by Management in latest quarterly result:
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