Tropicana is known for its high end devlopments and has an excellent land bank, reported a nice 24 percent growth in earnings this morning, but when I read earnings increased from 2.12 to 2.2 sen, I wasn't that impressed. Third quarter always seems like its weakest and overall, this year hasn't been stellar.
So lets look at the charts. The question is, is this stock in an uptrend? I would say it is more of a punters stock as a trend isn't clearly defined. A punter's stock means the stock gets kicked way up and kicked way down. I don't see many consolidation periods. Personally I would stay away.
I can't really recommend anything but to buy below RM 0.80 send and sell at RM1.60.
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