Stock of The Week : MULPHA International

Mulpha International  has been picked as stock to be focused on this week by KM Lee. Below is the company three years financial summary.

The price has been going up steadily and volumn also picking up. A stock to watch.........

The company three years financial summary shown below:

MULPHA International shares were on the rise for more than a month, climbing from the recent lows of 38.5 sen in late August to a high of 48 sen during intra-day session on Thursday amid fresh bargain hunting interest.

Yesterday, they re-tested the previous day’s peak again before paring gains to close flat at 47.5 sen. Based on the daily bar chart, prices are flirting just two ticks below the mid-term descending line of 28.5 sen and it looks like a major breakthrough may come about soon – because interest in this counter is growing.

As for the indicators, the oscillator per cent K and the oscillator per cent D of the daily slow-stochastic momentum retained the buy signal at the bullish territory. Though the 14-day relative strength index had reached the overbought reading of 91 points, there was no sign of it tapering off just yet.

Elsewhere, the daily moving average convergence/divergence histogram continued to expand positively against the daily trigger line after issuing a buy on Sept 13.

The promising technical reading suggest a positive breakout may be on the card. Perhaps, investors can consider taking up a position, if one is optimistic of the trend going forward.

To the upside, a push above the relatively strong barrier of 52.5 sen will clear the way for a challenge of the previous rally peak of 62 sen, established in mid-June last year.

Support floor is pegged at the 44 sen mark. — By K.M. LEE

> The comments above do not represent a recommendation to buy or sell.