price target is higher than 2.90 shooting star pattern can by manufactured. lets say u want to accumulate a stock u can manufactured a morning star by pushing it much higher than your intended closing price. the action today says we shall give less weight to the technical consideration of shooting star formation. market is very bearish and super illiquid, anyone can manufactured any chart pattern they want as no one is buying or selling.
forsee e&o continue uptrend. its currently the only counter with strong catalyst. stp2. dont b surprise if the stock shoot to 4.00
With EnO it's most of the time morning shooting star. That's why it requires anchor. The earlier anchor was 2.52 but since yesterday outburst now have to wait for it to settle to know new support
this stock has singaporean investor following due to, founder singaporean, substantial shareholder gkgoh- one of the best n biggest broker in singapore, another goreng syndicate. once the messages out that Sime is no longer seeking to privatised e&o, the upside can b tremendous. strong catalyst. 1. largest landowner in Penang, even larger going fwd as they r manufacturing land. 2. stock price had been supressed due to corp governance issue and Sime controlling stake of possible GO.
Leo, read Saturn's comment he thinks mgmt is accumulating below 2.90. In fact yesterday created a momentum which was undesired. It was way way above the volume and the price may go up too fast too early before the 10% arrangement complete. If that happens, the buy in for the mgmt may be encouraging but Terry would not have collected fast enough
Optimus, I believe if give Esos you need buy in of mgmt if price is below 2.90 and Esos is 2.90. Also Terry has to share the 10% with the mgmt team....70/30 or 80/20?
From what I have read from thestar, Terry hasn't confirm the method to share the 10% which will give him time leh to collect and slowly bring up the price before the 10% is offered so that the option will be accepted.
Oooooi.....keep quiet lah Joel....every time My remisier my remisier......no facts but all rubbish....did Dsonic go rm7??? Read his portfolio none of what his remisier said came true. Don't spoil this counter lah
Joel Stock: [CWORKS]: CWORKS SYSTEMS BHD Apr 7, 2014 02:10 PM | Report Abuse
my remisier said 4 days ago last wek, this stock is going to hit Rm0.80 - Rm1.00 soon. Bcos some campany wanna to buy Cworks 's share in open market.
If it stays at 2.74, it's a better sign. The price is filling in and closer to today's high of 2.77. If it closes at 2.77 or higher, the gap up manage to sustain. A very good sign then.
RHB has been accurate thus far. They called for trading buy in feb this year which is normally 3 mths to meet TP set. The TP was 2.70 and it's already met two days ago. Am impress at their accuracy....
I only trust a couple of investment house....moreover the recent call is a buy for TP 3.52 and not a trading buy as earlier. I like trading buy becoz, they are short and have very good catalyst
Sharizal, very seldom you get all the investment house in one counter and continue to adjust their TP. Here 2 prominent is RHB and Cimb among the 5 or 6 who has put a target here. Have a read on some of the good comments.
Following a luncheon with management, we reaffirm our BUY rating on Eastern and Oriental Bhd (E&O) with an unchanged fair value of RM3.90/share – a 15% discount to our NAV of RM4.61/share, which includes our assumed land value of RM250psf for STP2. We have yet to impute development profits into our NAV model.
- We see a more balanced shareholding structure after the increase of Datuk Terry Tham’s stake in E&O. Datuk Terry recently announced that he would be acquiring a 10% stake from Sime Darby for RM2.90/share, raising his stake to 15%. Sime Darby’s stake would be reduced to 22%. Datuk Terry’s increased stake in E&O should demonstrate the management’s commitment in ensuring a smooth execution of STP2. This move would also promote greater alignment of interests between management and shareholders.
- Management reaffirms that the STP2’s master plan is expected to be endorsed by the Penang state government in June 2014. E&O is currently exploring funding options for the reclamation of STP2. Management alluded that there is little need for equity fund raising given E&O’s strong balance sheet – net gearing of 30% as at FY14 – and the strong development potential of STP2.
- Land was recently transacted at RM600psf-700psf in the Tanjung Tokong area. What is more important now is the establishment of a benchmark land price for STP2. At the moment, there is a range of imputed land values for STP2 in the market. In our NAV model, we have assumed RM250psf for STP2.
- We believe that E&O may carve out select parcels for commercial developments, which will be sold to reputable global/regional developers once it commences reclamation for STP2. Such a move will not only set a precedent in pricing land values in STP2 but also trigger significant NAV upgrades, we believe. This is a crucial share price driver.
- E&O is looking to step up prices for the remaining 250 terrace units at Avira. Phase 1 (208 units) achieved a 70% take-up at RM605psf during the special preview. Demand for Avira is expected to remain strong, including interest from Singapore given its strategic advantage as the first landed development within Medini.
- Princess House’s individual sales (20 units) are fully sold. E&O are still in negotiations for the en-bloc sales of 34 serviced apartment units.
- The stock is currently trading at a steep 41% discount to its NAV of RM4.61/share.
TP BY THREE LEADING BANKS : (i) CIMB (2 June 2014) Rm; 2.99 , (ii) RHB (3 June 2014) Rm 3.52; and (iii) AMBANK ( 5June 2014) Rm 3.90. Wow! First time I see 3 leading bank endorsements for a single stock within 4 days. THE NEXT ECOWORLD
Ok Joel good just keep it to facts.....all your buy call all wrong for the other counters. Doesn't do much justice for your uncles capabilities......damnnnnn
Spend a few minutes browsing around i3 investor you will find that E&O is the best bet in town. Also, believe Terry T is a brilliant investor and will not let you down. He has already told ALL that 2.90 is base camp..........so go ahead and bet the durian farm ! GOOD LUCK! Cheers!
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....
Alfred Aun
1,139 posts
Posted by Alfred Aun > 2014-06-04 11:01 | Report Abuse
y the share price can not breakthrough 2.70 this morning?