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All standby.......Get ready for the wave up after 2pm......
FMs on the way........90cents today, tomorrow $1
CHEONG AHHHHHHHHHHH
86c... excellent!.. 90c to hit ..
LAI LIAO
A lot of buy and accumulation at 83.5cents and 84cents.
Afternoon will shoot up above 90cents again then $1 by weekend......
Cheers for those who vested
Price no less than S$1.20........according to the last report.....from house
can see that ppl are buying up at 84.5 cents .What is the recommended listing price in HKG?
HK dual listing confirm ?
actually... what is 83c important?.. because it is the 15d ma ?
Pls adv what is the next resistance level?It might be a good entry point from here...
broken!!!!!!!!!!!!
83.5
ozone2002 ( Date: 18-May-2010 10:07) Posted:
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Sound Global Limited, BUY S$0.81, Bloomberg: SGL SP
Growth on track
Price Target : S$ 1.20
By: Ai Teng Tan +65 6398 7967
At a Glance
· 1Q10 PATMI of RMB45.6m forms 12% of FY10F
· Expect stronger 2H with more contracts flows
· HK dual listing proceeding but could be delayed considering weak market
sentiment
· Reiterate Buy, TP S$1.20 offers 48% upside
Comment on Results
Sound Global (SGL) announced a 148% y-o-y rise in headline profit to
RMB45.6m despite additional RMB7m expenses relating to its dual listing in
HK. Excluding forex and one-offs, core profit was up 45% as revenue jumped
73% to RMB234m. Gross margin of 29.9% was a shade lower than our forecast
but relatively stable to FY09’s 29.9%. Sales growth was attributed to1)
equipment sales (Hi-Standard), which we believe tripled to RMB33.6m from
RMb8m in 1Q09; 2) stronger O&M contribution of RMB2.6m and 3) 55% growth in
turnkey services (EPC).
Stronger growth in 2H10 as 1Q is typically the weakest quarter for SGL.
Post Q1, we estimated order backlog to be around RMB1.1b, which would
further increase as new contracts flow in through the year. YTD, SGL has
announced RMB244m of new municipal contracts, compared to our RMB1bn
forecast for FY10F. Balance sheet continued to strengthen with RMB10m added
to net cash of RMB1.02bn as at end 1Q. In addition to this strong kitty,
SGL has secured USD600m of credit line from China Merchants Bank to
accelerate its expansion into capital intensive BOTs.
Recommendation
Reiterate Buy. Although growth and its solid fundamentals have remained
intact, shares of SGL have weakened in the past months amid broad market
weakness and perhaps the delayed dual listing in HK. Our market checks
indicated that SGL’s dual listing is proceeding. Hence, we see this
weakness as an opportunity for investors to accumulate the stock. Maintain
Buy with TP of S$1.20 (26x FY10F, pegged to average PE multiple of HK
peers).
gotta break 83..to FLY to the sky..
CHIONG AH!!!! 82.5!!!
good thing we accumulate below 80c..hahaha
Hulumas ( Date: 17-May-2010 20:39) Posted:
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ME TOO!
ozone2002 ( Date: 17-May-2010 09:58) Posted:
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soundglobal delivered very good results..
vested more @ 79.5c.. go lower i buy even more..
Wave B starts now. May be a good opportunity to trade wave B, a 10% to 15% upside potential.
http://mystocksinvesting.blogspot.com/2010/05/sound-global-start-of-elliot-wave-b-now.html
sound global is going thru a ascending triangle formation..
with 83 as the resistance..
u will notice the vol over time will decrease as the short sellers get exhausted..
once that is done.. u will see the bulls in charge and break the 83c with high vol..
no more sound asleep..
83c!
If the price is moving up above $0.845 tmr then it is high chance to test the $0.90 soon...
here we go again!