jackytheman - dont regret, I dont think anyone can really buy at the lowest and sell at the highest. From technical point of view, this stock had been in a downtrend mode from May 2011 to May 2013, then there was a huge break out in May 2013 and it has been in consolidation mode since then until now. If you look at the monthly chart, it has been steadily increasing from Sep 2013 to Dec 2013, slowly but surely. This shows that insiders are accumulating it. Besides that, today it closed at 0.84, which is above the highest point it set in May 2013, which is 0.828. So, I believe it has a very good short-medium term potential. Btw, I just bought today at 0.845. =)
*But I might be wrong. These are just my two cents*
Fitter usually start their engine in second half, from my observations but recently started on the first half.. Hmm.. What I can say for sure is, don't play contra with fitter..
Since so all support I go all in now at 0.855 :P All my ang pow money and saving haha Cheers this New Year Shark fin or porridges depend on Fitters liow
jacky, my first advice for you is never ever put all your eggs in one basket unless you are 100% sure that it will go up. In my opinion, insiders have been accumulating for 7 months and no news have come out yet - not reflected on media nor quarterly reports. They need some positive, stimulating news to sell the stocks out. So, I believe still got potential. =).
Fitters Diversified (FIT MK) Technical BUY with +19.0% potential return Last price : RM0.840 Target Price: RM0.930,RM1.00 Support : RM0.785 Stop-loss: RM0.780 BUY with a target price of RM1.00 with a stop loss placed below RM0.780. Following a breakout from the 200-day SMA line on 7 May 13, FIT’s share price has climbed higher and hovered in the RM0.630 to RM0.825 region. Although the first attempt to push above RM0.825 on 28 May 13 had failed, FIT successfully breached that level yesterday. We note a higher trading volume of 6.3m shares (vs 20-day average of 2.0m) was recorded, thus confirming a genuine breakout. Surging momentum should back the share price to nudge higher toward the previous 2-year high of RM0.930 which, if breached, could trigger fresh buying interest and move the share price toward the psychological resistance of RM1.00 in the medium term.
Interesting part ... "He and his colleagues used pressure sales tactics to sell worthless shares, talking up the value of these shares they had bought cheaply.
They then sold them for a profit - leaving other investors with losses when the inflated share prices collapsed."
I believe the stock has more rooms to charge ahead. At current low PE ratio this company has all the ingredients and right businesses for the fund managers to take notice.
I'm investing in this counter because of its FA .. So im gonna hold for about 3 months as of now.. Depend on your own strategy, holding power and capital
Jackytheman, here is some brief explanation http://klse.i3investor.com/servlets/ptres/20630.jsp Regarding your question, it's billion dollar questions.. Lol.. If I or anyone would able to predict so accurately, then I for one will never work, be a full time trader/investor
But here is a tp reference, by hwangdbs which is 0.95 As for how long and will it reaches, only god knows.. I will take profit if and only if I discover other more value or this counter loss it's value ..
All the best, may all of us get big big ang pao.. :-)
Fitters Diversified; Buy; RM0.86 Price target: RM0.95; FIT MK
Fitters announced that it has proposed to list it wholly-owned subsidiary Future NRG Sdn Bhd (FNRG) on Catalyst, the sponsor-supervised board in Singapore. The listing is subject to the approvals of Fitters’ shareholders and relevant authorities.
There are scarce details on the listing plan at this juncture but we understand that FNRG will be the Group’s flagship arm for the renewable energy business, focusing on: 1) biomass to renewable energy, 2) waste to energy (municipal, industrial, medical waste); and 3) sustainable palm oil mill. FNRG’s main asset includes the 60MT palm oil mill in Kuala Ketil, Kedah.
We are neutral on the potential listing of FNRG given the insignificant contribution of its renewable energy business. The renewable energy division contributes RM1.2m pretax profit in 9M13, accounting for a mere 3% of the Group’s pretax earnings. Nevertheless, the listing may help to raise proceeds to further grow the business.
We maintain our Buy rating on Fitters with SOP-derived TP of RM0.95. Fitters’ growth prospects will be anchored by its property division going forward, particularly its Rawang project on a 50-acre land which is estimated to carry RM300m GDV.
Daily Price increment at 1.5 sen for the last 3 days with fairly the same volume. Price continue to support during the last trading hours. Next resistance level is at 90 sen.
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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....
Yk John
2,699 posts
Posted by Yk John > 2014-01-08 10:47 | Report Abuse
coming soon.....0.86