The second reversal rectangle cancelled off the first one which is an uptrend continuation price pattern. Strong support is at 0.83, s2 at .815 n gap closure at 0.80.
If it can secure one more sizable contract soon, it will fly above the Kenanga's target price of RM1.13 easily. Moreover, its MD has indicated that the company should be reporting a higher annual turnover above RM500mil in this FY, exceeding last year's RM338mil. So, its FY2014 net profit could be expected to increase by probably >50% if it could manage its costs well. Another Gadang in the making???
RM0.85 is June'11 high price, maybe some of the 3yrs old shares holder missed the May'14 profit boat and now regret and try to sell out at RM0.85 as breakeven and go...hope price stay >RM0.85 as support toward 135degree....
As for small-cap pick, we favour Mitrajaya (TRADING BUY; TP: RM1.13) as this under-researched stock is one of the quality small-cap contractors that is worth considering given its visible earnings growth prospects. Mitrajaya’s earnings reached an inflection point in FY14 as its order book reached an all-time high of RM1.2b (3.3x to FY13 revenue), 140% higher than the previous high of RM500m. Based on our conservative analysis, we forecast Mitrajaya’s core earnings could at least record high double digit net profit growth of 52% and 31% in FY14E and FY15E, respectively. More importantly, valuation-wise, we perceive the stock’s current price has yet to fully reflect its growth prospects, trading at only 7.2x against peers’ average of 9-10x.
Recent corrections seems over. Looks like stabilizing at this price. Yeah rite silentbird, next quarter would be good I think. Better take action now or it be too late, when it rises
aiyo ds, follow you can huat ma.... same boat, seem like old boat, ala lubang lor,,, not moving today... but wait .... i quite sure this will come soon.... then become,, power boat...
aiyo ds, aledi stable, can second round lor, suddenly, powerboat accelerate, everybody chase, sure go over 1.00. now take in slowly la, old boat fit power engine ma
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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....
FlappyBird
196 posts
Posted by FlappyBird > 2014-06-26 15:43 | Report Abuse
let's see then :)