*** Potential Trade Setup: Olam. Share price 1.81. (Broken up 200 DAY MA)

Olam has broken up above the 1.80 level today. A key thing to note is that it has Broken above the 200 DAY MA - 1.78 level (Dotted blue line) which can signify a longer term recovery is in place. You can see that it has been trading below the dotted blue line mostly ever since Mar 2011. More upside in the short term if it stays above the 1.80 level.  As long as 1.80 holds as the new support, Olam can find a new consolidation above it. Top 30 Volume seen currently.

Stop loss 1.77.

 

Trading Buy Call: Genting HK. Share price: 0.505.

Genting HK has cleared the psychological 0.500 resistance level which it has consolidated below for about 2 weeks. Currently at 0.505. Top 30 Volume seen currently. Almost reaching the high set in September 2010 which was at 0.55 level. Possible for it to test this critical level again if it managed to stay above 0.500. Resistance has turned support at 0.500. As long as 0.500 holds well, short term upside to 0.55 can be possible. A break above 0.55 can see it find a new high at 0.60

Stop loss at 0.485 

** Potential trade Opportunity: Yoma. Share price 0.855.

Yoma has broken up temp resistance level at 0.85. Have been consolidating below this level for about 2 months already. Currently at 0.855. Near term upside to 0.900 possible on TOP 20 Volume seen currently. New support at 0.85 has formed on this break out. A break above 0.900 can see it test 0.925 quickly which was the all time high set in Jan. Mainly a Myanmar property play.

Stop loss at 0.835 

*** Trading Buy: Yongnam. Share price 0.325. (Broken out of 5 year consolidation phase at this level)

Yongnam has been trading below the 0.33 level since NOV 2007. It has broken out of this 5 years consolidation phase today. As long as 0.32 and 0.30 stays as the new support level, it is possible to head higher target to 0.38 near term. Volume at Top 4 currently on this critical breakout which signal more interest.

Stop loss at 0.29.

 

UOBKH: Yongnam Holdings Ltd (YNH SP, Y02) -  Technical BUY with +26.9% potential return  Last price: S$0.315 Resistance: S$0.40 Support: S$0.29  BUY with a target price of S$0.40 with tight stops placed below S$0.295. The stock has been trading sideways for more than three years and has been trending above its 50day moving average after having formed a golden cross earlier. Its Stochastics indicator has hooked up and its MACD indicator looks poised to form a bullish crossover.   Our retail research has a fundamental BUY with a target price of S$0.40. 

 

Ø  Maybank KE: Yongnam Holdings: Positive NDR affirms our conviction BUY, TP $0.45 Our recently concluded non-deal roadshow in Singapore drew high levels of interest from institutional fund managers, with the Asian infrastructure theme of particular relevance.Ø  Management expects the resumption of major contract wins in the 2nd half of this year, which we think will be positive stock catalysts.Ø  Yongnam’s consortium is amongst the front-runners for the Myanmar airport projects. We reiterate BUY ahead of 2H13, which is shaping up to be an interesting period with major catalysts in store. 

 

**** Trading Sell (CFD): Cosco Corp. Share price 0.795. (CFD short trade)

Cosco Corp has indeed broken the 0.800 psychological support level today. Now at 0.795. Possible to increase short positions on this break down as mentioned earlier. Buy stop at 0.815.

 

Posted yesterday – 6 May 2013

Cosco Corp has broken below key 0.855 support level that it has held above since the whole of 2012 to last Friday. Today’s sharp drop is mainly due to weaker than expected results announced and a flurry of Sell calls from analysts. Technically, support has now turned resistance at 0.85 level. As long as 0.85 remains as a resistance level and Cosco does not go above it, still bearish in the short to midterm. Next support at 0.800. A break below this 0.800 can see it go lower further probably to test 0.700 level. Will increase short positions on this break of 0.800 psychological support level. Note that the low in Oct 2008 after the global financial crisis is at 0.625 level.

Buy stop at 0.86.  

Trading Buy: Ezion Hldg. Share price 2.12. (Uptrend in placed)

Ezion has crossed above the 2.10 psychological resistance level. Currently at 2.12. Was consolidating below it for about 2 weeks before breaking up today. At current levels, it has also broken above the 20 DAY MA (Green line) which can signal short term upside. Next target would be 2.18 then 2.20. Recent high in April was 2.23, a break above this can see it test 2.30 to find a new high. For short term, as long as 2.10 hold, we are bullish.

Stop loss at 2.08. 

*** Trading SELL (Short): Cosco Corp. Share price 0.83. (CFD Short trade)

Cosco Corp has broken below key 0.855 support level that it has held above since the whole of 2012 to last Friday. Today’s sharp drop is mainly due to weaker than expected results announced and a flurry of Sell calls from analysts. Technically, support has now turned resistance at 0.85 level. As long as 0.85 remains as a resistance level and Cosco does not go above it, still bearish in the short to midterm. Next support at 0.800. A break below this 0.800 can see it go lower further probably to test 0.700 level. Will increase short positions on this break of 0.800 psychological support level. Note that the low in Oct 2008 after the global financial crisis is at 0.625 level.

Buy stop at 0.86.

 

OCBC: Cosco Corp (S’pore): Downgrade to SELL - missed expectations
Summary: COSCO Corp (S’pore)’s 1Q13 revenue and net profit attributable to shareholders came in at S$733m (-25% YoY) and S$9.7m (-65% YoY) respectively. Turnover from shipyard operations, consisting of ship repair and shipbuilding, decreased by 26% YoY to S$719m in 1Q13 (1Q12: S$966m), while turnover for dry bulk shipping and other businesses increased by 8% YoY to S$13.8m (1Q12: S$12.8m). All in all, 1Q13 performance was disappointing with PATMI forming only about 9-10% of ours and consensus’ FY13F estimates. We now cut our FY13F-14F PATMI estimates by 50-60% and pare our fair value estimates to S$0.76 (previously S$0.90) on 1.3x P/B. We expect the street to do the same. Downgrade from Hold to SELL

 

Maybank KE: Cosco Corp: Big Earnings Miss; Maintain SELL, TP $0.73

Ø  Reiterate SELL, TP of SGD0.73 pegged to 1.3x trough P/BV. A disastrous set of 1Q13 results with revenue of SGD733.0m (-25% YoY, -13% QoQ) and PATMI of SGD9.7m (-65% YoY, -59% QoQ). Net profit made up only 9% of our and 10% of consensus’ full-year forecast.Ø  Cosco expects margins to contract further into the subsequent quarters due to lower-price contracts in its orderbook, rising labour cost and appreciating Chinese Yuan. Net orderbook stood at USD6.4b with only USD254m of orders secured YTD.Ø  We slash our FY13-14F earnings forecasts by 33-43% on the weak 1Q13 results and expect similar aggressive earnings cuts by consensus. Valuation is too rich at current levels given its declining profits and weak execution.

 

Trading buy: Osim. Share price 2.02. (Broken 2.00 psychological level)

Osim has cleared the critical 2.00 resistance level which it has tested more than a month ago. Has been consolidating from 1.92 to 2.00 level since the breakout in end of March 2013. More upside is possible in the short term to 2.10 then 2.20. Note that the high in Oct 2006 was 2.16 level, would be keen to see it touch the previous high again. As long as 2.00 remains as new support level, we are bullish.

Stop loss at 1.985.

 

By Maybank KE on 30 April 2013

OSIM International: Touched By An uAngel; Reiterate Buy, TP $2.60
OSIM SP | Mkt Cap USD1.2b | ADTV USD2.1m
Ø OSIM is announcing its 1Q13 results on 7 May after market close. We are expecting net profit of around SGD25.5m for the quarter (up 15% yoy), on double-digit sales growth.
Ø The uAngel has proven to be very popular according to our channel checks, and will likely boost YoY sales growth. However, the full effect will only be apparent from the 2nd quarter onward.
Ø Our TP of SGD2.60 remains a Street high, reflecting our bullishness for 2013. OSIM is our top pick within the Singapore consumer sector and we reiterate BUY.