COSCO SHP SG    Last:0.128    +0.003

CoscoCorp

yup today at 0900 GMT

 

Any idea when is the FY 2006 result out....Is it Today? 

 

With this latest order, Cosco's project-based orderbook has crossed the US$1bn mark in less than a year. Cosco's orderbook has also stretched into FY2010.

 

"Delivery will be stretched into 2010 and we believe this was a deliberate move by Cosco to keep ample capacity in the nearer term to handle time-critical offshore units," said CIMB-GK analyst Glenford Tan in a client note.



Tan raised the target price to $4.22 from $3.15 and maintained an "outperform" rating.

 

Will continue to rise slowly

 

Nostradamus Supreme	Posted: 16-Jan-2007 20:21
	Hi tonersweat, A tight Bollinger band in Dec indicated a surge upwards. Since then it has been on a tear. Broke out of pennant formations upwards. A potential US$1b worth of contracts would enable its price to reach around $3.00.

Rose to $3.02, breaking $3 as I expected.



Don't read too much into insider sales. While insider buying indicates bullish sentiment. Insider sales are not so clear cut. Insiders could reduce their stakes after a run-up due to profit-taking and not some impending bad news.



More contracts won. It won a heavy lift vessels contract valued at $287 million from Chipolbrok. Under the contract, Chipolbrok has secured the option for two additional heavy lift vessels. Chipolbrok must exercise the option on or before 31 March 2008. The first four vessels will be delivered between March 2009 and April 2010.



The contract is not expected to have a significant impact on the NTA and EPS of the Company for the year ending 31st December 2007.

 

I think this baby would bust $3 soon. Looking extremely bullish especially with results being announced next Mon. Keeping my fingers crossed.

 

I haven't really got myself into these details. Was vested and kept accumulating since mid last year on this counter. It has been on the rise. They have been awarded quite a number of contracts since last year, and that should be good for their earnings this year or next.

 

I've had similar observations of director cutting stakes too. The cutting of stakes by directors is only one indicator - since directors sell for a variety of reasons (pay for kids' overseas education, buy new property, buy Ferrari!). Global trends carry more weight and in this case the boom in the offshore marine services sector (within which Cosco carries out ship-building mostly, conversions, and repairs) was simply overwhelming.

 

This counter has been under my radar when it was about 55 cents (a friend alert me to it). Since then, it has been on the rise. Apparently the market was bullist about this counter. When it went up to more than $1 something, I was very tempted to  go in and buy some. But one thing pulled me back from doing it. I noticed (from some filings to SGX) that some directors of the company were paring down their holdings. Conventional wisdom says you should not buy when insiders were selling. But the price kept going up, even after the bonus issue. I was somewhat puzzled. Still not vested as I still could not convince myself to buy when knowing that some directors had been selling. Any one know the reason why some directors were selling when the common investors were chasing the stock?

 

Will either be stagnant or rise slowly...

 

hi,

Anybody care to share some insight on this ctr? With the announcement of new contracts, any new outlook or trend for theis ctr.? Is this a good price to eneter?

 

Hi Synaspe,

Yes, sometimes I make use of Fibonacci. But I treat that as a backup tool. My main tools are mainly the charts. They're useful but can only be applied if the stock in question tends to behave in a Fibonacci way.

I don't really make use of Candlestick patterns. I rely more on trend analysis.

 

Hi Singaporegal,

May i humbly request for you to share some insights on how to determine the lowest price during a retracement? Do you use techniques like Fibonacci, candle stick analysis etc? Thank you in advance.

 

Hi leolim818,

I still maintain my view that there's possible trend reversal going on now. Be cautious.

 

Hi lg1167,

TA not very accurate for Auston... but from TA charts it shows an uptrend. But please note my comment on inaccuracy for this counter.

 

Singaporegal, sori to sidetrack...how abt Auston..upwards or downwards!! pls advise. thanks.

 

Hi singaporegal, you are right, now the trend drop to 2.680, any advice on this stock?

Highlights from dbsvonline:
Cosco Corporation : Opening salvo
Buy S$2.81; Price Target : 12-month S$ 3.23 (Prev S$ 3.00)

Story: Cosco Corp achieved a major breakthrough by securing its first
semi-submersible vessel building contract, bulk carrier building and
conversion contracts, worth a total of  US$450m.

 

Dad luck today, vested at 2.76 then see S'gal post of  'reversal trend'. how ? s'gal, need ur close monitor on TA and guide.thanks.

 

Caution on this counter... Acc/Dist and Chaikin starting to turn down indicating a possible trend reversal