A Quick Kill Or Be Killed?

My multi-indicator trading system (based on Keltner & RSI) shows the following screening results as of today. One of the screened companies is SYF Resources Berhad.

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Company Background – SYF Resources Berhad (SYF)

SYF Resources Berhad (SYF) is a Malaysia-based investment holding company. SYF is engaged in the manufacture and export of molded timber, furniture products and timber treatment processing; manufacture and export of furniture and component parts; trading of domestic, commercial and industrial furniture, and property development and management construction. It operates in four business segments namely, rubberwood furniture, which involves manufacture and trading of rubberwood furniture and component parts; general trading, is responsible for the sale of consumer products; property development, is involved on the development of residential and commercial properties and; others, which handles the rental of investment properties and investment holding. In September 23, 2010, the Company announced that it will implement a debt restructuring scheme and had appointed Public Investment Bank Berhad as the main adviser for the implementation of the scheme.

Technical View

SYF appears to be on a downward trajectory. This explains the title of this posting – it is either you will get a quick kill or if things do not go according to your plan, you will be killed if the downward trajectory persists. The multi-indicator trading system picks this stock up due to its possible oversold position. Hence, there may be a slight opportunity to consider a pullback trade. Assuming a profit target at RM0.55 and a stop loss at RM0.45, you are looking at a possible reward-to-risk ratio of 1.0x.

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