EVERGRN formed a bullish engulfing bar near the RM1.00 psychological level with improved volumes. The MACD Histogram has turned green and the RSI is at the oversold position. Price may rebound towards the RM1.12 and RM1.18 levels. Support will be anchored around the RM0.99 level.
No !. If drop to 1.03 buy a little. If drop to 1.01 buy kau2. Now market looking at oil and USD Vix index. I waiting to c who going to blink first b4 i masuk. It does appear it will cross 4.12xx tonite barring any earth shattering news to the RM upside.
profit taking will take place for those who bought at 99s... which is today and tomorrow...and forced selling for those who bought at 1.07-1.08s next week!
hotrod, maintain trust in you. stock has been down way too long. just waiting for the T plus 3 & forced selling to b over, anyone knows why rm is depreciating today when oil is up? a good start for the week though. cheers
Look like you guys has been having fun. I just got back from China. Their economy is certainly in recession like Malaysia. The decrease in demand is very obvious. It might be one of the factors that affect this counter. The weather in Msia certainly too hot. I look forward to flying home this weekend to enjoy natural aircon at home.;-)
ExCFO, if u did notice, EVERGRN's biggest export is not to China... and with the RM continuing to be weak against USD, and based on its previous quarterly results, I don;t see a reason why it should trade at aroynd RM1.00. It should be trading at above RM1.70 in my opinion...
yes Evergreen has a big customer base. Unfortunately, China is now one of the big power house. When it slow down it affect all the other countries as well. The result for the first quarter to 31 March should be ok.
The manufacturing industry result will extremely weaken compared to last year. This is not related to currency but it's global economy recession issue. Expected more downturn is coming....
Evergreen (EVF) was represented by Finance Manager, Martin Leong. He met with nine fund managers in Singapore. There were no major surprises from the meetings. Management is cautious about demand from the Middle East, due to the persistently low oil prices but so far, volume and pricing has remained resilient. EVF commands 20% market share in the Middle East. Pricing remains more favourable compared to South East Asia. In terms of product mix, 60% of EVF's sale of MDF is thick E2 boards, while the remaining are higher value-added, low emission thin boards. With the improved automation from its capex spend, EVF expects to cut its manual workforce from 2,500 to 2,400 employees by year-end.
The 2016 RM100m capex plan comprises the new particleboard line RM70m, the new RTA furniture line RM20m and maintenance capex RM20m. The timeline for the rollout of the new facilities is on track - the new RTA line will commence in mid-2016 while the new particleboard line in Segamat will be ready in late-2016 or early 2017.
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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....
Aaron Kwok
84 posts
Posted by Aaron Kwok > 2016-03-09 10:00 | Report Abuse
plenty of sellers still.