KUALA LUMPUR (Jan 11): AllianceDBS Research said Eversendai Corporation Bhd (Sendai) was at a higher high and that Sendai had on Jan 10 crossed over the 62 sen hurdle to reach a high of 63.5 sen before closing unchanged at 61.5 sen.
In its evening edition yesterday, the research house said Sendai continued to trade above the 20-day and 50-day moving average lines.
“Following the unchanged close on Jan 10, the stock is likely to move higher again with immediate hurdle seen at 64 sen.
“A crossover of 64 sen should see further price rise to the next overhead resistance at 66 sen.
“The support is pegged at 60 sen. A fall below 62 sen would put pressure on the stock down to the subsequent support at 59 sen,” it said.
AllianceDBS Research said stock volume traded on Jan 10 was 4.43 million shares compared to the 3-month average volume of 4.19 million shares.
The research house said that indicators wise, the MACD was above the 9-day moving average line with the buy signal remains intact.
Eversendai Offshore have been awarded two new contracts by EPC contractors for projects in both North Africa and the Middle East regions
Eversendai Offshore has committed itself to structural steel erection operations since 1982, when it first undertook its first project, the Dayabumi Building in Kuala Lumpur.
The first of the two new construction contracts is for an offshore support facility building 93-B-01 for Al Zour new refinery project (EPC-5). The contract was awarded by HSS JV, consisting of Hyundai E&C, Saimpem Spa and SK E&C. To take place in Kuwait, the contract will last for 27 months and will be completed in Q1 2019.
The second contact is for the fabrication engineering and construction of jacket and piles in the Persian Gulf for the Italian firm Rosetti Marino Spa. This contract period is for six months and will be completed by Q3 2017.
Currently, Eversendai Offshore are operating in Ras Al Khaimah, UAE for Vahana Offshore, two projects in Abu Dhabi, UAE for Tecnimont Spa and Prosernat, and in the Culzean Gas Field in the North Sea for Prosernat.
This counter can gap up and down easily.. Floating share very low.. Last 2 years this counter gap up more than 30sen in one day..they can play people emotion..
Frankly speaking, initially I intent to add at 0.58 but scared away by the fluctuation, just park at 0.56 n couldn't get it. You can how they play this counter, shake hard2...
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....
pineapple123
2,472 posts
Posted by pineapple123 > 2016-12-23 17:27 | Report Abuse
strong 56/5 closing. strong strong