I was just explaining to another investor of this stock. I've just pointed out to him that there is positive sign for E&O. Here is the snippet on my email to him...you can check my point using Chartnexus:-
"On daily chart - The support is at RM1.90 and second support is RM1.86. To me, the most important support is at RM1.86. Breaching that means it is heading to RM1.80. If you are to look on the candlestick, it forms hammer then a long black candle but stop at RM1.90. I have reason to believe it is consolidating at this level.
Why? Simple.. looking at RSI vs price chart - it is showing divergence. MACD vs price chart - it is showing divergence and finally it is trading at the lower band of Bollinger. Volume is also coming off when it is trending down. So, RM1.86 is very possible while I am hoping RM1.90 is a strong support. The real kicker will come in if the result that is due in few days time beats expectation. Then you will see a strong rebound.
I don't want to over-promoting this stock. But I am getting more bullish on this stock. If you are fundamental person, then as it go lower, it gets cheaper. If you are a technical person, then what I have explain will provide some comfort, while waiting for the announcement of the result. Again, because I a strong believer of this stock, I'm betting big on the warrant."
The word "manipulate" aptly describes what has been happening here for the last few months. The believers have patience, the frustrated/confused, please call the SC to check
Better no EPF here leh....I still no decide to buy yet but better no Epf. Becoz LTH d kena ...tomorrow we see LTH related counter kena taroh oh. Before that EPF test water on withdrawal age from 55 to 60. Now we know Ho why they test water lor. Those with EPF Buyin also gotto be careful
Yesterday's volume was nearly twice the daily average......maybe big BUAYA in water. Be careful and bring BUAYA repellant if planning to swim. Have fun!
Posted by Saturn > May 4, 2015 10:07 PM | Report Abuse
This will be my final post.......the end has been foretold....very good for those who are latching on..... Remember the story I told of the UK foray which eventually would split into two E&O, well call it E&O MY and E&O UK for now. TT and Eric has confirm what I have said a year ago stating that they are looking to buy a UK listed company and eventually be an independent entity in the sense that their PNL would be independent of the other. Now what they have not said is when and why right?
My story went on to share why TT bought back the shares at rm2.90 with one of the reason being that Sime would not be able to do without a head honcho at helm for London projects. Some of you have also posted links of the growth of properties in London. Who would have been in better position to take helm of London purchases and development more than TT simply because TT is not only spending most of his time in London but have also developed myriad of major and successful projects under his belt.
All that I have written to this point carries no barrier to support why I see E&O will succeed moving forward except to offer some insights which eventually TT himself has announced what I said earlier. So I was right about the UK foray however that does not mean anything at this juncture. Why? Because the big picture has still not been clear to all as yet. Let's examine, in sequence
1. Bought 1st UK property 2. Completed the DEIA but delay in state approval 3. TT bought back 10% from Sime reducing Sime holding to approx 22% from 32% 4. TT offered these block to the senior management 5. E&O got the all important approval from state Goverment for the development of STP2 6. Warrant listing 7. Bought 3rd UK property
Up to this point, the share price was on an uptrend channel while awaiting the tender. The tender dates were moved forward 3times (understandable since there were many contractors (Govt contractors, tender contractors...) and DEIA to observed. As this was going on, investors became impatient because Mar deadline (before Apr GST) was nearing. Though I did ask all to sell by Mar before the further decline starting Apr onwards due to the uncertainty in GST, however I am looking forward to May. So will it be "Sell In May" and come back in August after summer or will it be the start of the engine for E&O? Let's examine the below
8. Tender expected award is in July
From now till July is 3mths however May is also the financial result mth. For E&O, the financial report coming out in May is not only for Mar 2015 quarter but also a year closing ie FY 2015. From the accrued unbill and the expected financial performance, this may be the first kickstart for the share price to move again.
Up to this point it is actually business as usual expectation. I am only bringing things up to date.
But up to point 8 we expect and anticipate an organic growth. My last story went on to tell of how the GLC are going to come together to deliver a business more robust. To deliver this, everything needs to fall into place. This means STP2 all approved, reclamation tender awarded, UK purchases all complete, E&O UK properly registered, and now the GLC can just take over with everything served and ready for revenue. But just take one step back, the GLC's biggest problem is timing. The timing was poor during the departure of LIew fr SP Setia, the timing was poor with the tightening of loans, RPGT, and now GST....We know the GLCs does not have any good candidate who can replace Liew so much so that the have to keep Liew as Project Chairman for Battersea even though he has a conflict of interest now working on JV on Ballymore in UK. This part will be address with TT helming London with the exchange of buying E&O MY back and restarting an entity E&O UK with TT to helm. True? Let's us see if I am right
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....
mililia
227 posts
Posted by mililia > 2015-05-05 23:32 | Report Abuse
I was just explaining to another investor of this stock. I've just pointed out to him that there is positive sign for E&O. Here is the snippet on my email to him...you can check my point using Chartnexus:-
"On daily chart - The support is at RM1.90 and second support is RM1.86. To me, the most important support is at RM1.86. Breaching that means it is heading to RM1.80. If you are to look on the candlestick, it forms hammer then a long black candle but stop at RM1.90. I have reason to believe it is consolidating at this level.
Why? Simple.. looking at RSI vs price chart - it is showing divergence. MACD vs price chart - it is showing divergence and finally it is trading at the lower band of Bollinger. Volume is also coming off when it is trending down. So, RM1.86 is very possible while I am hoping RM1.90 is a strong support. The real kicker will come in if the result that is due in few days time beats expectation. Then you will see a strong rebound.
I don't want to over-promoting this stock. But I am getting more bullish on this stock. If you are fundamental person, then as it go lower, it gets cheaper. If you are a technical person, then what I have explain will provide some comfort, while waiting for the announcement of the result. Again, because I a strong believer of this stock, I'm betting big on the warrant."