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Yes. It is tough for this counter to have any performance during this period before the announcement.
No change in TA readings since my last post.
Siam Siam....don't get caught...
Cosco Corp seems like a prime candidate for shorting. It bounced off
it's resistive trendline with a inverted hammer and it broke the gap
support at $4.4. Furthermore, the A/D line is also showing bearish
divergence. The likely support level or the target price is around
$3.83. U can check out the chart here @ my blog.
Urge caution... TA charts show bearishness despite rise today. Acc/Dist and Chaikin heading south.
| RELEASE OF FINANCIAL RESULTS FOR FINANCIAL YEAR ENDED 31 DECEMBER 2007 / PRESS CONFERENCE CUM RESULTS BRIEFING |
| Description |
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That is tough question. The price is going to be around this or lower for some time.
Is it good price now?
3.92 ?? Oh no, so cheap... can drop below 3.00 ????
cosco: support at 4.78, then at 4.32. be careful, selling appears to be gaining momentum.
not an inducement to buy or sell. fyi.
cyjjerry,
Thank U for the info. Wish u prosperity in2008!
TA analysis showed that this counter has broken its 100d EMA support twice.
In the coming week, it may dip further before it stabilizes. I would monitor the counter instead.
KE said that it's an excellent opportunity to pile in. Share price is down by some 28% since its high of $7.90 in Oct, despite no change to its very positive fundamental outlook.
Good chance of earnings outperformance. With 9M reported net profit of $220.1m, Cosco is on track to exceed KE's full-year earnings estimate of $305.7m. Cosco could come close to doubling its core net earnings.
Niche in bulk carriers and conversions. China Ocean Shipping's (COS) recent award of a US$1.36bn contract for 20 container ships to Yangzijiang Shipyard is not a cause for concern as Cosco's forte is not in building container ships. Cosco will stick to its niche of dry-bulk carriers and more complex shipbuilds such as car carriers and other specialised vessels. It is also probably the market leader for conversions.
KE maintain BUY with target price of $8.10, with room for upgrades. By their estimates, Cosco can deliver around 50 newbuilds per annum, and this does not even include the revenue streams from its conversion, repair, offshore and bulk shipping businesses, all of which remain healthy.
Likely to move up this month. The current price looks attractive as compared to 7-8.0 few months back. This is definitely a growth stock!
dbsv is very bullish on COSCO with it 12mths TP at $9.50. It pointed out that COSCO is well covered because it's rig and shipbuilding contracts included currency protection clauses to hedge against big drop in US$. It is typical in most shipbuilding contracts to be quoted in US$ many shipbuilder are badly hit with continuous drop in US$. (caveat: this is my understanding)
Perhaps investor seek shelter in blue chip stock....
Why suddenly shot up?
Prospect is good for this stock. In fact, it is one of the most sought after counter last week. Price a bit high to go in at the moment.
Is there a good prospect for this stock?
with the bid size change to $0.01, Cosco price will start to crawl like snail......