Media Prima Weekly HEFFX Highlights: $.45 target

Media Prima  Weekly HEFFX Highlights: $.45 target

Media Prima Berhad is Malaysia-based integrated media company. The Company is engaged in commercial television and radio broadcasting, media advertising, digital media, sale of program rights, provision of outdoor advertising space and related production works, content creation, talent management and publishing and sale of newspapers. Its segments include Television Networks, Radio Networks, Outdoor Media, Print Media, Digital Media, Content Creation, and Corporate and Others. It holds interest in TV3, 8TV, ntv7 and TV9. It also holds interest in The New Straits Times Press (Malaysia) Berhad, which is a publisher with three national newspapers, including New Straits Times, Berita Harian and Harian Metro. It also owns over three radio stations, Fly Fm, Hot FM and one FM. It operates in the out-of-home advertising sector and is represented in the market by the brand names: Big Tree Outdoor Sdn Bhd, Kurnia Outdoor Sdn Bhd, The Right Channel Sdn Bhd, Gotcha Sdn Bhd and UPD Sdn Bhd.


Media Prima has entered into a digital partnership with iflix for free catch-up TV, shortly after iflix inked a similar partnership with JTBC Content Hub, the content distribution arm of South Korean media company JTBC.
As part of the partnership, Media Prima will make over 1,000 hours of content from its library available via a dedicated tonton branded channel on iflix’s platform to boost Malaysia’s local content offering. The collaboration will offer easy access for consumers and open greater content monetisation opportunities for Media Prima through iflix’s ad-supported tier, iflixFREE. Meanwhile, it will also expand Media Prima’s digital reach across Malaysia and increase its online video views.


https://www.marketing-interactive.com/media-prima-ties-up-with-iflix-for-dedicated-tonton-branded-channel/

Overall, the bias in prices is: Downwards.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

Note: this chart shows extraordinary price action to the downside.

The projected upper bound is: 0.50.

The projected lower bound is: 0.40.

The projected closing price is: 0.45.

MEDIA PRIMA BHD closed up 0.005 at 0.450. Volume was 90% below average (consolidating) and Bollinger Bands were 6% narrower than normal.

OpenHighLowCloseVolume
0.440.4550.440.45149,800

Technical Outlook
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages:10-period50-period200-period
Close:0.470.490.45
Volatility:405955
Volume:269,8401,993,3661,349,832

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

MEDIA PRIMA BHD is currently 0.3% above its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect very strong flows of volume out of MPRM.KL (bearish). Our trend forecasting oscillators are currently bearish on MPRM.KL and have had this outlook for the last 24 periods.

Momentum

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 16.0000. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 4 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 38.40. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 32 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -110.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 8 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 30 period(s) ago.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 4 black candles. During the past 50 bars, there have been 17 white candles and 23 black candles for a net of 6 black candles.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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