Yongnam   

Yong nam

After run to 29c, goes on profit taking lohh..

 

Hi.

Anyone know why the Sell Volume is low, Buy Volume is high,

but yet the pricing still can go down ?

 

 

Bullish engulf ?

 

I see Rogersam's point that the sand issue may in benefit Yongnam.

 

 

 

This stock is in Super Bull mode.

 

Catch the dip and ride the wave.

 

Hope analysts can upgrade Yongnam.

 

Technicals -

Weak Squeeze broke out today.

Momemtum, Williams Peaks, Velocity, OBV, VOSC, and Volume, all pointing up today.

 

Yongnam today. (+) 2c to 29c. Vol 53,110,000 mil shr changed hands.

Time	Last	Volume	Bid/Ask
17:05:13	0.290	1,807,000	X
17:00:00	0.295	50,000	A
17:00:00	0.295	13,000	A
16:59:59	0.290	100,000	B
16:59:47	0.295	140,000	A

Traded Summary:

Last	Trades	Volume	Bid Volume	Mid	Ask Volume
0.265	46	5,030,000	3,721,000	0	1,309,000
0.270	72	9,043,000	2,900,000	0	6,143,000
0.275	29	4,531,000	520,000	0	4,011,000
0.280	84	10,208,000	1,000	0	10,207,000
0.285	125	10,070,000	607,000	0	9,463,000
0.287	1	50,000	0	50,000	0
0.290	86	13,145,000	3,158,000	1,807,000	8,180,000
0.295	25	1,033,000	0	0	1,033,000
TOTAL	468	53,110,000	10,907,000	1,857,000	40,346,000

 

There was an announcement by Yongnam today. Most of the proceedings from the placement was allocated to capability enhancement vis-a-vis repayment of debts. Seems to indicate good corporate governance.

 

The Board of Directors of Yongnam Holdings Limited (the "Company") wishes to announce that the Company has utilised S$16.1 million from the net proceeds of the Placement of approximately S$19 million after estimate expenses of approximately S$0.8 million for the following purposes:-

(i) S$2.0 million to repay an overdraft facility provided by United Overseas Bank Limited;
(ii) S$0.4 million for the construction of a sand blasting and painting facility;
(iii) S$6.8 million for the purchase of strutting assets; and
(iv) S$6.9 million for working capital

The Company will continue to make periodic announcements on the utilitsation of the balance of the net proceeds from the Placement as and when such proceeds are materially deployed.


BY ORDER OF THE BOARD


SEOW SOON YONG
Chief Executive Officer
Yongnam Holdings Limited

Date: 10 April 2007

 

Time	Last	Volume	Bid/Ask
17:05:05	0.270	1,005,000	X
16:59:59	0.275	10,000	A
16:59:52	0.275	15,000	A
16:59:50	0.275	300,000	A
16:59:27	0.275	100,000	A

BBs bot down ?? isit, very Sad yahh... 

Traded Summary:(FYI Only)

Last	Trades	Volume	Bid Volume	Mid	Ask Volume
0.270	3	1,065,000	60,000	1,005,000	0
0.275	92	7,533,000	6,164,000	0	1,369,000
0.280	71	4,837,000	98,000	674,000	4,065,000
TOTAL	166	13,435,000	6,322,000	1,679,000	5,434,000

 

more upside for bbr.. if you have holding power.

 

Could be topping out.... 

 

Yongnam shares will be relatively unaffected by the sand issue as it is a specialist steel structure builder. In fact, the sand issue may benefit Yongnam, esp when govt has started to encourage the use of steel.

CIMB predicts this share will hit $0.41 and I think it will go to that price one day, just don't speculate. Its just that right now constructions stocks are not the flavour yet - right now its property stocks. You will see the contructions move when their turn comes. I think there will be a run up within this month for these stocks but not sure it can hit $0.41. Anyway, this is just my view...

 

It will in 2-3 weeks time, meanwhile happy trading , within your mean, just guessing, will considering to collect if it visit 26c/27c  

 

Hope monday yongnam 'share will move.

 

 

Got all the construction materials now ? How come it still drop today ? Able to move to next barrer 0.29 ?

 

Myanmar has offered to be a long-term supplier of sand, cement, granite and other construction materials to Singapore, a move that will help to ease the shortage of these items in the building industry here. Will this help to boost yongnam shares ?

 

Not worry, ivorycoast.

Just anxious.

 

ivorycoast...

I agree with that... good post!.. :)

 

As what everyone is used to say : "Life still needs to go on mah !".

 

yongnam cheong ah!!!!!  :D