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Petdag recorded a q-o-q decline in net profit
by hlk Fri 12 Aug 2011, 13:32
Results Update
Petdag's net profit declined by 8.6% q-o-q but rose 4.5% y-o-y to RM208.7 million while turnover increased by 18% q-o-q or 38% y-o-y to RM7.540 billion. The q-o-q decline in net profit was attributable to lower gross profit margin.
Technical Outlook
The stock is still in an uptrend, albeit some profit-taking over the past few weeks. However, you may notice the bearish divergence in both the MACD and RSI indicators, which could be signaling a top in the stock.
Conclusion
Based on the weakening in the technical indicators and the q-o-q decline in bottom-line, my earlier recommendation to sell into strength remained.
Author: Alex Lu
Petdag's net profit declined by 8.6% q-o-q but rose 4.5% y-o-y to RM208.7 million while turnover increased by 18% q-o-q or 38% y-o-y to RM7.540 billion. The q-o-q decline in net profit was attributable to lower gross profit margin.
Technical Outlook
The stock is still in an uptrend, albeit some profit-taking over the past few weeks. However, you may notice the bearish divergence in both the MACD and RSI indicators, which could be signaling a top in the stock.
Conclusion
Based on the weakening in the technical indicators and the q-o-q decline in bottom-line, my earlier recommendation to sell into strength remained.
Author: Alex Lu
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