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Bright World
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Gallen
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20-May-2006 11:36
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Extracted from my blog http://kelongstocks.blogspot.com Technical Analysis On the hourly charts, Bright World is currently in a downtrend (capped by thick red resistance line). After hitting a low of 58 cents recently during the correction, prices rebounded to close the initial gap at 62.5 cents but failed to clear this resistance before correcting again. On the daily chart, today's candlestick is a bullish inverted hammer after recent days of correction. Resistances: 62.5 cents (gap resistance as well as downtrend resistance line), 64 cents (another gap resistance), 65 cents, 67 cents Supports: 58/58.5 cents (hammer support on 16 May 06 and recent low achieved on 18 May 06), 53.5 cents (intra-day low on 27 Apr 06) Indicators: Neutral with bearish bias. RSI hovering above the oversold zone but directionless, MACD declining but still in positive territory, Stochastics made a bearish crossover and trending downwards to oversold region. |
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Gallen
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19-May-2006 21:59
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Extracted from my blog http://kelongstocks.blogspot.com Fundamental Analysis Full year revenues and net profits came in about 10% lower than my expectations. Hence, I am scaling back forecasts for FY06 accordingly. 1Q FY06 gross profit and net profit margin were significantly better than 1Q FY05 due to sales of higher performance stamping machines which commanded better margins. This was despite the reduction in other income as a result of lower sales of scrap metal. Net profit margin was reduced partly due to cessation of tax exemption for FY06, effective tax rate for FY06 is 12% Excluding tax expenses, net profit margin would have been 23%. Going forward, profit margins are expected to continue to rise due to increased sales of higher performance stamping machines. Growth in sales will be driven by expansion of production capacity and also increased sales to key markets and new markets. .............fair value and conclusion continued at my blog |
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