yes, but not this round and hope it can go up to 1.38 first for this round early next week and after that drop to yr dream price then meeting there, haha
my ex-college asked me to dispose all by today... but I believe ENGTEX will up somemore .... I strongly believe I will earn from engtex if I able to keep.
RHB research on 18/7/2013: Engtex may climb higher after closing on a 52-week high yesterday. A position can be initiated if the stock closes above MYR1.28, with a close below MYR1.21 as a stop-loss. The price target is MYR1.50, if the MYR1.40 resistance level is broken. A failure to get above MYR1.28, however, will likely see the stock trade sideways and downside risk increases if the stop loss is triggered.
the only reason for engtex going down is because THaji is selling off.. estimate TH will finish selling off by next week, good entry point now, once TH is out, selling pressure will be much much less, and it'll fly. Current EPS is 15 cent. Full year EPS of 30 cents just x6 = 1.80 or even lets say FY13 eps of 25x6 = 1.50
6x multiplier, of 25 cent EPS as the baseline TP 1.50, or 30cent x 8 = TP 2.40
this company quite steady. even during financial trumoil in 2008 and 2009, their profit is respectable. the business model seemed quite resilient. And if you look at the segmental breakdown, most of the profit comes from water related bsuienss and the property segment has not contributed much yet. Their property assets are quite huge (some of the industrial land at Puncak Alam was bought very cheap). When the property earnings come in, EPS maybe shoot up to 40 sen ?
And also, this has not factored inpotential businesses from the Langat project, etc... Buy now lah, dont wait....
depends on ur strategy really... and also how u view things, fundamentally nothing's wrong with engtex's business, syria war, usd exchange dont really effect them too much. engtex's more of a local player i believe. if you're looking at 6months, i can probably say with 80% certainty that buying now you'll be at least 10% profitable 6 months later (with expected 25-30 cents FY EPS), i can't say how the near term impact's gonna effect it though... near term is played by short termers who'll do anything to try to make more profit.. whether they succeed or not.. (those who sold at bottom today) who knows...??
Adlishariman, apart from results, the other catalyst for engtex would be the water sector consolidation. If you follow puncak niaga, talks are that the water issue will be resolved in three months time. If that happens, puncak niaga and kps shares will be runnig wild. That is when the crowd will wake up and look high and low for water related stocks. Inevitably they will focus attention on engtex, YLI, Jaks,, etc. so you want to buy now or you want to chase together with the crowd ?
We must learn to move one step ahead of others.....
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....
Awesome
1,221 posts
Posted by Awesome > 2013-07-17 23:34 | Report Abuse
Still can buy in? OTB research looks promising! Hehe