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Sudden surge in price for 2 days. Merger/acquisition coming... lookout.
Technical BUY call from CIMB
Immediate outlook:
Medium term outlook (2-6 months): Medium term outlook for Beyonics is bullish now as the stock just broke out of its long term trend line resistance. Both MACD and RSI are still positive, which suggest that the buying momentum is still strong. We believe that long term investors should continue to buy now as the stock is a MT Technical Buy. The next target for the stock is at S$0.70 (trend line resistance), followed by S$0.835 (its 2002 high).
Support2 0.45 - 0.47
Support1 0.53 - 0.545
Resistant1 0.58 - 0.595
Resistant2 0.68 - 0.70
Both the 1st wave and 3rd waves show an increase of about 11c each.
So the 5th wave may just add another 11 c to end at 65c.
ZaoBao's cal may be based on fibo (i cal using fibo, it is 80.5c)
3QFY07 (30.4.07) results. EPS (9mth) = 3.45c, NTA = 52.64c. Forward guidance by Mr Goh CEO - positive, expect to "perform relatively well as we see increased production output...".
http://info.sgx.com/webcorannc.nsf/ef3ba6cb188613ea482571b2003641d3/7a0a398cb7b93d89482572f80010b894?OpenDocument
May be ZaoBao's news on Saturday will reach a lot more people who might otherwise not aware of Beyonics.
This may move its price Beyond and above
Not much cash @ 31 Jan, balance approx. $50m but bank borrowings $91m (up from $56m last Q).
Look forward to 3Q results (30 Apr) should be out by middle of next week.
0.65 cents would still be to low for Beyonics. This company has substantial amount of cash and NAV is also relative high.
DBSV - Technology Sector (4 Jun)
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theme in five US cities in the past one week. Many investors
appreciate the M&A highlight as the pace of takeovers raging
today just makes it hard to ignore the trend. In fact, even as we
were on the road, our M&A top picks Amtek was bid for by
private equity while the takeover noise on UTAC became louder. ��
for M&A but would buy fundamentally good stocks where
buyout potential is an added bonus. ��
significant interests in UTAC and Global Testing whereas
fundamentally driven long-term funds are keen on Unisteel and
Venture. Aztech and Beyonics also garnered some interests for their undemanding valuations. Overlooked Singapore tech offers good values.
Still no news from Beyonics. How come SGX didn't raise query too. Like they say 'no smoke without fire'. I hope it can hit 60c by this weekend.
1st wave (33.5 to 48 c) ... an increase of 14.5c. 3rd wave may increase by 1.618x14.5=23c. So 3rd wave possibly (45 to 68c) in a week's time ?