Like all properties stocks, Plenitude have also move out of its long consolidation which saw its share price hitting a low of 1.13 in 2005.
Since then it have been on a gradual uptrend hitting a high of 3.06. After the sell-off in march 2007 which saw its price plunging to 1.59.
After almost 2-3 mths of sideways consolidation the stock attempt a breakout today. If volume increases, this stock have a very good chance of attempting a technical target of at least 3.50.
Fundamentally this stock have a single digits PE of only 8.3 and has an NTA of 3.70.
With properties stocks on rotational play this stock is a Buy for immediate target
of 3.50.
Monday, July 9, 2007
Plenitude (Bursa Malaysia: 5075)
