KLSEPSP - Dialog to break out resistance

DIALOG (7277)

Lets see what we have on DIALOG.

News or supported recommendation.

Date	Open Price	Target Price	Upside/Downside	Price Call	Source
11/05/2012	2.22	2.99	+0.77 (34.68%)	BUY	OSK
11/05/2012	2.22	3.05	+0.83 (37.39%)	BUY	MAYBANK
11/05/2012	2.22	3.09	+0.87 (39.19%)	BUY	KENANGA
11/05/2012	2.22	2.95	+0.73 (32.88%)	BUY	HWANGDBS
11/05/2012	2.22	2.93	+0.71 (31.98%)	BUY	CIMB
11/05/2012	2.22	2.85	+0.63 (28.38%)	BUY	AMMB

The only news at the moment is about dividend and financial result.


Payment of an Interim Single-Tier Cash Dividend of 11.0% in respect of the financial year ending 30 June 2012.
Kindly be advised of the following :
1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ]
as from : [ 13 June 2012 ]
2) The last date of lodgement : [ 15 June 2012 ]
3) Date Payable : [ 29 June 2012 ]

1. On Friday, price has try to break 1st cloud resistance at RM2.27, but failed to sustain due to profit taking. and closed to RM2.25
2. After huge share accumulated on Thursday, not a surprise that share gap up on Friday. 
3. MACD is slowly recovering and now heading to level of 0.
4. ADX = Bearish trending has ended last 2weeks, and now waiting for +DI to go higher. As it goes higher, signal line will go above 20. At the moment, bullish trending not yet started.
5. MFI also looking slowly going higher and now above 50%. 
6. I strongly believe the share is going to try breaking the resistance again at RM2.27. After that, another cloud resistance at RM2.34 before the share could go more higher.

At the moment, our target is RM2.27 as the resistance, then RM2.31 before breaking another resistance at RM2.34. Manage to break that, RM2.37 & RM2.41 are the targets.

If compare to IB's target price, mine is quite low and more reasonable to move in short-mid term. i really doubt the share could move up as high as 87cent, considered with market condition at the moment. But I know it is not impossible,and anything can happen in share market. As long i am one of the profit traders in DIALOG's strike, then its fine. Furthermore i am looking at cheap CW, which DIALOG-CH at 0.045 and expired in July with premium of 5.93%.