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i have to clarify, i posted the message on 3 jul to tell that the fall back confirmed on 2jul was no more (we were discussing the fall back before that). but this was a short term review for next coming day.
my personal opinion for next week outlook of construction stock should be not so good at the beginning of the week, have to see later end of the week. for short term players, maybe not a good time to enter .
but be careful , no one can predict a super hot stock . due to too much of news, speculations, it doesnt really follow the TA rules. i analysed some hot stocks like csc, lian beng, yong nam, japan land, etc ... they dont follow TA rule at all.
just my opinion, hope this help.
hi myehub,
on 3 jul, it formed a reversal patter which is trending down with the peak of 0.505. so TA think the price wont break 0.505 (was very big block volumn too). but it proved we were wrong and it break 0.505 and all the way up to 0.535. that was the reason i said it has no more reversal signal (sell signal) because the highest point was no more 0.505.
anyway, we can see a broad selling of all construction stocks recently. and all the stocks can't come back to the highest price of last week bull. so i think is good to stay away from hot construction stocks and wait for the good price to go in again.
ciao.
Hi jerrymaguire,
Could u pls enlighten what do u mean when u said 'it broken its reversal pattern. the fall back is no more confirmed.', what do u mean? Do u mean by fall back? r u referring to rebounce? Tks
Congrat to those who are vested
CSC Holdings
So next announcement will be for Yongnam's contract?
announced that they had bagged another S$60m worth of contracts relating to the development of the two integrated resorts in Singapore.sometime a lot of hot stocks dont follow the normal technical pattern. we can still apply TA, but if it is not what the TA expected, we got to buy back immediately because it always surge too fast ..
now the bear came back, so wait for the 2nd wave of bull ...
cheers ... up up up ....
hello bro,
it broken its reversal pattern. the fall back is no more confirmed. so wait to see.
wow, continued with its climb... now 52.5 cents liao !!! Cheers
yongnam price has been risen too much (~20% in a week), also meant the price now already reacted to the speculation (new IR contract and Take over talk).
for shor term player, this coming week should be down, as we know news/ speculation is short lived.
if you are planning to hold long term, 0.61 is definitely reachable for yongnam as there is more contrats to be announce for IR .
this is a warning for the short term player, or if want to enter this week, can wait a while. i believe the price will close at <0.48 this week. let see and monitor tomorrow's signal.
happy trading..
The decision of Springleaf Tower lawsuit is expected for favour for Yongnam on 9 Jul 07, write back of $10m~12m. + if the office space sold, est gains $5m~6m . From the two factors(total of $15m~18m), my est would be TP$1.24
Valuation and recommendation
Upgraded FY08-09 forecasts.
industry and company prospects, we are upgrading our FY08-09 forecasts as we
previously under-estimated the large flow of contracts and shortened periods for
revenue recognition due to tight timelines, especially for the two IRs. In addition, it
appears that Yongnam?s forays into the Middle East are paying off, and likely projects
would include the Dubai Metro, Doha airport and Qatar World Trade Centre.
Combined, these projects are worth over S$250m. There is also the benefit of margin
expansion from the tight project timelines and absence of serious competition for
Yongnam.
Following recent meetings with management onMaintain Outperform with new target price of S$0.61
25x CY07 P/E). Our new target is set at 20.0x P/E, as we roll forward our basis to
CY08. At 20x CY08 earnings, Yongnam would be trading at the level of peers. We
believe our target is reasonable in view of the 74.4% FY06-09 earnings CAGR
http://www.gohdirect.com/NASApp/spaf/econtent/sg/Yongnam-Hldgs-260607.pdf
projected for Yongnam.
(previously S$0.41, set at