5200 UOADEV buy-in signal

Finally after waiting for a few weeks, today the candle finally broke through the Ichimoku cloud, and closed at 1.51. This indicates that an up trend has begun.
 

 

Around last week, MACD indicated the buy in signal too. The histogram turned positive and the lines have crossed as well.

After the announcement of giving 10sen per share as dividend, no increment in price can be seen yet. Despite many researches show that this counter is terribly undervalue, and it has the P/E of around 4.69, the sell force was still very strong. I believe this is due to the lack of investor's confident with this counter, since the price dropped like a falling knife after its IPO.

EPF also started to buy in quite some lots during the last week, and I will be waiting to see whether do they still buy in anymore this week.

Conclusion: I dont think it is easy to break through 1.60, at least not a few week before the AGM. Nevertheless things are getting better, observation shall be continued.