MY EG Services Bhd (MYEG.KL) 2

Overview:

My E.G. Services Berhad is engaged in the business of development and implementation of the electronic government ( E-Government) services project and the provision of other related services for the E-Government services project, as well as investment holding. 

Its businesses are categorized into two divisions: government to citizen (G2C) and government/enterprise solution (GES). 

G2C services refers to services, such as driving theory test bookings, issuance and renewal of licenses, electronic bill payment and payment (EBPP), as well as online information services, such as traffic summons checking and electronic bankruptcy or liquidation status searches (E-Insolvency). 

GES are non-Internet based services, such as software and enterprise solutions, system development and maintenance, as well as services rendered at the E-Services Centers. 

In February 2012, it acquired MY E.G. Capital Sdn Bhd. (MYEG Capital). O

n March 12, 2012, its subsidiary, MYEG Capital, acquired Ipidato Sdn Bhd.

Trading Plan:

1) Trendline - Still below 20MA, waiting for 20MA breakout at RM 0.77
2) Volume: High
3) MACD: Green (Positive>Bullish)
4) Smoothed RSI : At 47.2%. Waiting to break 50%.
5) Support/Resistance: Supported at RM 0.745. Resistance at RM 0.77.Today close RM 0.765
6)Stochastic: Blue line crossover red line. Uptrend signal is coming.
7) Beta: 0.22
8) Candlestick: ?
9) Pattern: Bullish after breakout at RM 0.77

Analysis:
News: MyEG posted a spectacular +21% for its Q2 profit.
Buy if KLCI in rebound sentiment before GE13.

Entry: RM 0.76
Profit: RM .081
Cut loss: RM 0.745
RRR (Risk to Reward Ratio) is 1 : 3

Thanks for the comments.

Tok