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This counter's TA charts looks stagnant and uninteresting at the time being.
Has anyone has any idea about the trading pattern of SMRT on Friday? I have realised that a lot of 1 lotters happening throughout the day. Can't be so many uncles and aunties trading the 1 lot every minutes throughout the day. I am beginning to suspect that the big sharks are accumulating under disguise, low profile, to avoid detected as big lotters purchase. Something might be brewing right now. Something that the sharks knows that we do not know. I may be too sensitive and suspicious!
SMRT awarded contract to operate The Palm Monorail.
Electricity and diesel costs rose by $3.6 million, or 19.7 per cent, to $21.8 million.
Bus revenue inched up 3.3 per cent to $48.3 million, resulting in an operating profit of $500,000 compared with a loss of $500,000 in the same quarter last year.
Taxi revenue improved by 11.4 per cent to $17.9 million and the operating loss narrowed to $300,000 compared with a loss of $3.2 million in the corresponding quarter.
Staff and related costs were down $2.2 million or 3.4 per cent to $62.4 million mainly because of the deconsolidation of Transit Link's staff cost.
Earnings per share rose to 2.5 cents from 1.8 cents in the same quarter last year. The group's net tangible asset per share was 42 cents, up from 39.6 cents three months earlier.
SMRT said it expects Q2 operating expenses to be higher than the same period last year because of more scheduled repairs and maintenance and the rise in employers' CPF contribution by 1.5 percentage points from July 1. Electricity costs are also expected to go up and diesel prices likely to remain volatile.
CIMB said the right things abt SMRT. Comparing Comfort Delgro and SMRT, hoping Phaik Hwa can step up and compete with Comfort Delgro's CEO.
0149 GMT [Dow Jones] STOCK CALL: CIMB downgrades SMRT (S53.SG) to Underperform from Neutral on view share price has run ahead of fundamentals after rumors in April of merger with rival ComfortDelgro (C52.SG); "a merger between the two is unlikely, especially with the vast differences in corporate cultures. In addition, any restructuring efforts may not necessarily yield immediate benefits to SMRT, given its strong management team and well-run operations." Keeps target at S$1.82. Stock off 0.5% at S$1.91. (FKH)
$1.88 could be the support. Then the 5th wave will start.
Personnally think if it drops BELOW 1.89, we will be seeing some weakness.
quarter result coming out 27/7. can recover?
MACD signalled buy on 21 Jun, but due to general market weakness, this signal has been nullified. May have to wait till XD.
Dividend of 5.75 c ex-date 16 July.
It has been ranging last couple of weeks between 1.90 to 1.98. Not sure if anyone did went for the range score but I did twice buying at 1.92 and selling at 1.98 within contra periods using CCI indicators.
Last friday's candle didnt look very good and so are the indicators.
CCI showing downwards to midway to OVERSOLD (the usual in ranging) HOWEVER, ADX has been showing signs of diminish uptrend with D- creeping UP strongly for the first time meeting D+ which crept downwards.
Watch out for a potential drastic downward price action.
I agree with tiandi... bollinger bands are tight indicating large price increase may occur soon. Acc/Dist and Chaikin are not too inspiring also.
Please be cautious on this counter. Kim Eng issued report on May 25 with a SELL call , TP 1.52.
http://www.remisiers.org/research//SMRT%20Initiation%20070525ke%20Sellpdf.pdf
The fed holding interest rate was good news to the equity world. Overnight positive DJ numbers influenced today's asia equity market. Finally price action broke the 1.95 resistance. Journey resumed ... :p
This counter the valuation is a little over stretch. If not because of the merger story, I guess $1.30-$1.50 range. Watch out if the merger did not materialise, it's 50/50 now!
CCI getting bored and its heading southward from OVERBOUGHT.
ADX though uptrend shows lesser strength compared to 20 APR. +D touches 40 and heading south as well.
Unload 1/2 at 1.91 yesterday (bad timing, why did I unload at 15:15H instead of the usual 16:00H? #$%!!!). Looking to unload the rest at 1.94. Any buyer at 1.94?
Queued for 1.92 but not to be. Will see how it goes tomorrow cos the indicators seem upbeat... Any comments?
Entering uncharted territory. Feels good to be part of the uptrend.
Awaiting for the merger - Buy rumors, sell facts. :p
This counter climbed up to $1.95 today. Looks bullish.......... something is coming up. May hit $2.00 anytime.