SPH
After the positive newsflow yesterday, SPH powered upwards to $3.82 forming a wickless white candle today. This effectively broke the resistance provided by the declining 200wMA at $3.80. As the white candle day took place on the back of very much higher volume, the target of $4.00 which I identified in earlier posts looks attainable. This is especially so with the MFI rising rapidly today but has yet to reach the overbought region. To those who hedged and bought some when SPH was at support ($3.60 to $3.62) recently, congratulations.
Healthway Medical
A black candle day and Healthway Medical closed lower at 18c on higher volume. The gravestone doji was a harbinger of bad news, after all. MFI continues to decline and is emerging out of the overbought region. Expectation is for the weakness to continue. Support levels identified in an earlier post are still valid.Healthway Medical: Black spinning top.
Golden Agriculture
A white candle day on reduced volume does not impress me. Unable to gap close on a white canlde day is a bearish sign and the gap resistance at 61.5c remains. I am still of the view that the price will weaken and, therefore, I shall wait to accumulate at supports on the way down. If the price should rise instead and the gap resistance is taken out, initial resistance would be the recent high of 65.5c and the eventual target is 69c.
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21 comments:
AK 71,
Well done with your predictions.
Can you enlighten me on the CR?
Thanks. Healthway Medical is issuing rights to fund their expansion into China. If you have shares of Healthway Medical now, you should call your broker to ask for more details about the rights issue. CDP will, in time, mail you an information package with instructions on what to do.
AK 71
Base on calculation I should be getting 160 lots
Not sure should sell or buy it...
Wow, that means you have 800 lots of Healthway Medical shares just like Kingston, another visitor here. 160 lots at $75 a lot is only S$12,000. Not a lot of money, especially if you believe in the company. ;) Can't help you here. You decide.
AK 71
Hahaha, I am Kingston lah....
Yes, u r right. Cheers.
Kingston
Kingston,
I kinda guessed it must be you. :)
So, it seems you have decided to hold on to your Healthway shares bought at 18.5c.
AK 71,
I may hold but at times need to control my impulsiveness not to sell too early. I am able to hold for an indefinite period including my rights issue.(Total of 960 lots altogether)
I have confident in Healthway but hope not to repeat the same mistakes as COSCO and China Hongx as mentioned yesterday by selling it too early resulting in lost.
Kingston
Kingston,
If you have confidence in the company, just keep holding, especially if the FA is sound and you're a long term investor like Warren Buffet. TA is useful in identifying nice entry prices but FA ultimately is more important in searching out good companies. Of course, as usual, good luck to us all. :)
Super green horn here so theres some silly questions that i would like to ask...lets say i have 10 lots of right issue, do i have to hold on to my existing shares to be able to qualify the full 10 lots? Any good books or links for a green horn to read up?
Thanks
CL
No need to read books for questions like this. Ask your broker whenever you are in doubt. After all, they do get paid whenever we trade. ;)
It's now "cum rights" or "CR". So, any shares bought or sold at this time, the rights entitlement goes with the transaction. If you sell away all your shares now, you will lose your rights entitlement. When it has gone "XR", you will get to keep your rights even if you sell the shares. Hope this helps.
:) thanks
best CL
Hi,
Have been viewing your blog for a few weeks now, you really know what you are talking about. Thank you for doing what you are doing, God Bless You! :D
Thank you very much for the kind words. A nice way to end my evening. Come back often. :)
what is yr view after Healthway trade XR?
I have been asked this question many times and my answer is usually "Your guess is as good as mine!" as I'm apprehensive about giving a definite answer.
Ok, I will go so far to say this:
When the stock was traded at 12c, the TERP (theoretical ex rights price) offered by the management was 11c. It meant that they expected their shares to trade lower upon XR. Has the situation changed? You have to fill in the blanks yourself, I'm afraid.
AK 71,
Need some advise.
Ex date (XR)for healthway medical is 19 Jan 10. I will be getting 160 lots of rights even if I sell my shares tomorrow?
I intent to subcribe 160 lots my rights but sell off my holding of 800 lots at a lost. (17.5 to 16.5 cts.)
At 16.5, I will lost 16K but I intent to buy in later when the share price trade lower. My rights at 0.075 cts why help me to reduce my lost, hopefully.
I understand that there may be a risk that the share price may trade higher after XR.
Thanks
Kingtons
Hi Kingston,
Pardon the tardy reply. I just returned to Singapore late this evening.
If you sell your shares once the counter goes XR, you will still be entitled to the rights for these shares.
Healthway's share price seems to be holding up pretty well even after XR. Quite impressive.
It's up to you if you wanna sell at a a loss or to hold on. I can only say that the longer term picture for Healthway has not changed. It's still positive.
You say you wanna buy more Healthway shares "when the share price trades lower" but there is no guarantee that the share price will trade lower. TA cannot tell you if it will happen. It just tells you if it does happen, where are the supports and resistance levels.
Personally, one of my buy queues was done at 16.5c yesterday and those shares are without rights entitlement. If you did sell at 16.5c yesterday, I might have bought some of your shares. ;-)
Hi AK71,
I didn't do what I intended. I only sold 100 lots at 17.5 cts during CR. Presently holding on to 700 lots and 140 lots of rights and will buy over the rights
That will be my long term holding. Will accumulate more shares if the price go below 15.5 cts
Kingston
Hi Kingston,
Good plan. You are getting prepared to huat, I see. :-)
AK71,
Thanks. Will buy you coffee if I make it big this time.
Kingston
Hi Kingston,
Wah, make it big time, coffee not enuff liao. hahaha... Good luck to us all. :)
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