Technical Analysis of Saiham Cotton on 24 Dec 2016
This is no buy/sell recommendation - just a trial to see if
Technical Analysis (works to an extent) in Dhaka Stock Exchange.
Brief Fundamental Analysis: Saiham Cotton has been a de-growth story from Sep-Oct 2012
when it reached a peak of 47.6. It seems to have bottomed ~12 in Q2 2016.
The best part about it is that it gives 10% Cash Dividend
Annually. Yield quite good.
There was an expansion story in May 2014 but it has not
materialized yet.
PE is quite high at 16.
Will it be a turn-around story?
|
Profit
|
2013
|
2014
|
2015
|
2016
|
|
Annual
|
259
|
200
|
189
|
139
|
|
EPS
|
1.92
|
1.48
|
1.40
|
0.93
|
|
Dividend
|
10% C
|
10% C
|
5%C + 10%B
|
10%C
|
|
NOCFPS
|
0.04
|
9.0
|
3.0
|
2.0
|
Technically, there was a break out on 22 Dec 2016 on
high volume.
It has one Major Resistance ~17 – if it can break
that, then next Supply zone is at 22-23.
If it does not go below 15 in coming days, then I
think the trend will be up.
It is for the Risk-takers (stop loss if it goes below 15).
Anyone knows the reason?
- Is it something to do with International Cotton prices?
- Is it something to do with Saiham Cotton’s inventory and/or planned expansion?
- Or is it the market becoming inefficient?
As a Technical Analyst, I should not be concerned – but I like a
story . . .
I would like to bet on a turn-around story?
Let us see what happens . . .
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