Watch Out for Hi-P!
August 10th, 2007 NW Teong
After reaching its peak around $1.04 on 9th July, it started its steep fall since then till today at around $0.68, a whopping 35% drop in about a month’s time. With all indications, today is a great time to buy this stock. Fundamentally, tech stocks are slated to register stronger growth in the 2H of the year, this stock is no exception albeit weaker than original forecast, valuation is not demanding at less than 10 times 2007 forecast earning, and technically it is poised to rebound very very soon!
Screaming buy today, targeting a 15% to 20% in 1-3 months’ time. Please note that I may or may not hold this stock at the moment. Please read the disclaimer at the end of the blog. Goodluck!
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