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Quote from Philips;
The announcement that the Company is considering an American Depository Receipt (“ADR”) initiated the run-up in share price in recent months. ADRs represent ownership in the shares of a non-US company that trades in the US financial markets. This effectively means that US investors are now able to purchase Sinotel shares, listed on the Singapore Stock Exchange (“SGX”) without undertaking cross-border transactions and trades like the shares of US-based companies. The depository bank for Sinotel’s ADR is the Bank of New York Mellon, and each ADR issued by the depository bank represents 20 Sinotel shares in SGX. This then provides the Company with an expanded, more diversified investor base as well as increased liquidity in terms of volume traded. The approval by the US Securities and Exchange Commission (US SEC) of the Company’s ADR facility on 14th September 2009 has placed Sinotel another step closer to opening its doors to US based investors. The final step to the ADR saga
would be the appointment of a market maker, which the Company is still sourcing for, at this point in time.
Hi,
Heard that Sinotel will go for ADR in US mkt. Can anyone englighten me what are the effects the ADR will bring to the mother share price in SGX?
Thank you
I fully agreed your analysis n comments , so set stop-loss protection is necessary .
lsj840428 ( Date: 30-Sep-2009 21:00) Posted:
i bet it might go down to 58 which is the GMMA support as well. Let see what will happen......but looks at the MACD, it seems to have more rooms to plunge and the this forming downtrend is likely to last about two weeks (merely my personal point of view) before it turns.....btw, dyodd.......before u make any decisions.........
Bintang ( Date: 30-Sep-2009 10:22) Posted:
| Near term support at 60 cents |
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i bet it might go down to 58 which is the GMMA support as well. Let see what will happen......but looks at the MACD, it seems to have more rooms to plunge and the this forming downtrend is likely to last about two weeks (merely my personal point of view) before it turns.....btw, dyodd.......before u make any decisions.........
Bintang ( Date: 30-Sep-2009 10:22) Posted:
Near term support at 60 cents .
swkho80 ( Date: 30-Sep-2009 10:02) Posted:
today drops again. what is the support level ? can anyone share ?
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be downtread....support be at 0.615. Be careful....maybe boom depend on market
Closed on 64cts. Any chance rebound tmrw?
Near term support at 60 cents .
swkho80 ( Date: 30-Sep-2009 10:02) Posted:
today drops again. what is the support level ? can anyone share ?
lsj840428 ( Date: 29-Sep-2009 19:44) Posted:
| This is quite likely to have a downtrend formed. In light of yesterday's dow surging, yet it does not help to boost Sinotel's gain....Trader might start to take action now.....Besides, MACD indicator doesnt seem good....
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today drops again.
what is the support level ? can anyone share ?
lsj840428 ( Date: 29-Sep-2009 19:44) Posted:
This is quite likely to have a downtrend formed. In light of yesterday's dow surging, yet it does not help to boost Sinotel's gain....Trader might start to take action now.....Besides, MACD indicator doesnt seem good....
Bintang ( Date: 29-Sep-2009 10:44) Posted:
| Set stop-loss protection now . The downtrend may be is forming |
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This is quite likely to have a downtrend formed. In light of yesterday's dow surging, yet it does not help to boost Sinotel's gain....Trader might start to take action now.....Besides, MACD indicator doesnt seem good....
Bintang ( Date: 29-Sep-2009 10:44) Posted:
Set stop-loss protection now . The downtrend may be is forming .
beckleong ( Date: 29-Sep-2009 10:42) Posted:
| Price dropped to 68.5cts. Will Sinotel continue to drop further?
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Set stop-loss protection now . The downtrend may be is forming .
beckleong ( Date: 29-Sep-2009 10:42) Posted:
| Price dropped to 68.5cts. Will Sinotel continue to drop further?
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Price dropped to 68.5cts. Will Sinotel continue to drop further?
Yes raymond ,one by one they are forming the top formations , must be very alert .
raymondho ( Date: 26-Sep-2009 23:54) Posted:
| Thank you, Bintang
With the down move of Dow in Friday's trading, Sinotel's Monday may not look good. |
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Thank you, Bintang
With the down move of Dow in Friday's trading, Sinotel's Monday may not look good.
Yes , most of the counters which have run up so much must to set stop-loss protection already .
maxcty ( Date: 26-Sep-2009 23:29) Posted:
u mean mermaid and sinomem also?
Bintang ( Date: 26-Sep-2009 23:22) Posted:
| U are welcomed , raymond , not only Sinotel is overextended , but also other counters which have run up so much need to take a break |
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u mean mermaid and sinomem also?
Bintang ( Date: 26-Sep-2009 23:22) Posted:
U are welcomed , raymond , not only Sinotel is overextended , but also other counters which have run up so much need to take a break .
raymondho ( Date: 26-Sep-2009 23:11) Posted:
Thank you, Bintang Will menitor the price movement and the volumn closely.
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U are welcomed , raymond , not only Sinotel is overextended , but also other counters which have run up so much need to take a break .
raymondho ( Date: 26-Sep-2009 23:11) Posted:
Thank you, Bintang Will menitor the price movement and the volumn closely.
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Thank you, Bintang Will menitor the price movement and the volumn closely.
Hi raymondho , from the day I mentioned this counter had already forming the top formation pattern , it did not go up much . The weekly closing is not well to do either . Look like it was forming a shooting star , if next week it could not off-set this candle stick by closing , then the down trend should take place .ADX is also at the extreme top of 61 n turning down , daily RSI is divergent n turning down too .Only one factor could overturn this scenario , that is the volume . If the volume done next week could exceed the previous one with the surging share price , then the uptrend could continue . Those who want to hold on must set stop-loss protection by now .
raymondho ( Date: 26-Sep-2009 13:05) Posted:
Hi! Bintang, I always follow your post before making decision. For this counter, you mentioned that the top is forming, do you refer to the double top "M" pattern?
If it corrects, is that the Fibo 50% 0.68 will be the immediate support?
But the +Di is still greater than the -DI and ADX is still strong positively, does it means the px will be sideway for awhile feore the correction?
What's your view about this counter's prospective in near future?
Does the ADR will add value to it?
Please advise. Thanks. |
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Hi! Bintang, I always follow your post before making decision. For this counter, you mentioned that the top is forming, do you refer to the double top "M" pattern?
If it corrects, is that the Fibo 50% 0.68 will be the immediate support?
But the +Di is still greater than the -DI and ADX is still strong positively, does it means the px will be sideway for awhile feore the correction?
What's your view about this counter's prospective in near future?
Does the ADR will add value to it?
Please advise. Thanks.
Sinotel must go into correction phase before any further improvement could be made . Its top formation is forming .
Bintang ( Date: 16-Sep-2009 10:27) Posted:
Sinotel keeps on falling , if today closing price is at the lowest of the day , then the reverse trend would be confirmed .
Bintang ( Date: 15-Sep-2009 21:29) Posted:
| Sinotel was clearly formed the evening star at the closing . It would not go beyond 70.5 cents tomorrow if the volume done is less than today , n if tomorrow is a black candle day , then more unloading would take place . Watch out for the weekly closing to confirm the top formation |
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