Teoseng is under poultry sector in Malaysia. Malaysia currently under MCO 2.0 lockdown, and potentially an extension of lockdown.
Festivals seasons for Poultry Sector like Teoseng consider as Peak Seasons.
With MCO 2.0 lockdown in Malaysia, Restaurants & Business cannot operate as usual.
It will impact Teoseng Fundamentals Business...
Egg price recovery showing good indicator for bullish market.
1. Bearish Volume diminished over 6 month period
2. Price cross up MA20 and MA100
3. MA20 cross up MA100
Wait for oversold stoch for entry.
Target price 1.25 and another target will further update along with the bullish trend build-up
TEOSENG is on quiet long @ support zone. From the chart, we can see after retraced on Fibo, it show a signed that the bull already wakes up. Based on the 3M technical indicator, I think this counter will go higher in the midterm. I think it should test resistance level R1 @ 0.985 1st in the next day forward before it can go higher in the midterm to test R2...
Sector : Consumer Products & Services
Sub-Sector : Agricultural Products
P/E Ratio : 7.14
ROE (%) : 12.39
Lower profit in Q1 resulted from lower revenue after retiring old hens....
This is a personal view and does not constitute any buy/sell call