Eversendai Corp Bhd shares rose as much as six sen or 34% to a two-year high of 23.5 sen on news that it has inked a Memorandum of Understanding (MOU) with Saudi-based conglomerate Algihaz to form a joint venture to execute structural steel projects in Saudi Arabia. The Middle East represented 72.2% of Eversendai’s operational revenue in the first half ended June 30, 2023 (1HFY2023), with segment revenue of RM573.87m and pre-tax profit of RM25.37m. (The Edge)
Eversendai Corp Bhd made a break out of its trading channel yesterday to extend a short-term uptrend on strong buying interest. The counter's trading volume surged to its highest in nearly three years while the share price arrived at an intra-day high of 23.5 sen.
The break out could see the start of a recovery towards a resistance of 35.5 sen, and higher still to 45.5 sen.
The technical indicators are robust with the slow-stochastic remaining healthy at 70 points while the 14-day relative strength index is overbought at 79 points.The daily moving average convergence/divergence (MACD) line, meanwhile, has spiked higher at a sharp angle, signalling strong bullish momentum.Support can be seen at 13.5 sen and nine sen.
Operator stirs it to unload their bad position in the warrants for breakeven. Once they are done, nobody will be there to support both mother shares and warrants. Sell, stay away. Its a trap.
Sendai is tendering Rm15b of projects, but currently it’s share trading @ 19cts & mkt cap at Rm148m, seem no so matching, mgmt should push up the price to make it more trust worthy
Only 2 months?? It has been dormant for almost 8 years. Thamby, have no clue on how to get new business. Locally, no chance in a racist environment. Expecting crumbs from Middle East former clients.
Thamby recorded highest quarter net profit to shareholders after 10 years. Still, it does not negate the amount of losses. Thamby need to do more circuit workout, pr exercise.
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....
Vincentpu
59 posts
Posted by Vincentpu > 2023-10-18 13:54 | Report Abuse
Sold all at 10c ...yahoooo