hit support already at 2.3 if break that then with be downtrend, but I think it will be a slow uptrend from now because over the past 20 mins its been up down up down till 2.3.
i regretted no CL at my own CL point 2.54 yesterday and just now CL at 2.28, now lucky i CL, still got a bit 4-5% profit and lesson learnt...let rest and fight back again other day
supermax: Following the roll-out of Covid-19 vaccines which is likely to cause glove demand to moderate, the group highlighted that global glove prices had since dropped by 15% to 25%. However, the group does not expect glove ASPs to drop sharply due to the structural change in glove consumption from new customer segments. Our TP is downgraded from RM7.80 to RM6.80 based on 11x CY22E revised EPS of 61.9 sen. Reiterate OP.
RHB Research Institute’s analyst Alan Lim also said Supermax’s core net profit for 9MFY21 of RM2.85 billion was below expectation as it made up only 66% of his estimates.
He attributed the negative variance to the temporary closure at its production plant after the detection of several COVID-19 cases among its foreign workers.
“We have lowered FY21 to FY23 core earnings by 21% to 41% due to a lower utilisation rate assumption of 85% from 90%,” he said.
According to him, Supermax’s FY21 utilisation rate was affected by the temporary plant closure, and for FY22 to FY23, the lower utilisation rate will be due to normalised demand-supply assumptions.
He has also reduced ASP assumptions for FY21 to US$77 (from US$89), for FY22 to US$49 (from US$57), and for FY23 to US$37 (from US$48) after taking into account the recent ASP decline.
While maintaining buy call on the stock, Lim lowered Supermax’s TP to RM6.60 from RM8.75, due to the reduction in earnings estimates and long-term blended ASP to US$37.00.
continues 2 days ... glove counters going crazy even though producing good sales and profit. Good time to top up ..but average still bit high ...hope rebounce today closing.. tomorrow up.. be positive
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
btuscy
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Posted by btuscy > 2021-05-06 09:06 | Report Abuse
lelong2,