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Our pivot point stands at 1.21.Our preference: under pressure below 1.21.
Alternative scenario: the upside breakout of 1.21 would call for 1.25 and 1.28.
Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and positive.
The MACD must penetrate its zero line to expect further downside.
Moreover, the stock is trading under both its 20 and 50 day MA (standing respectively at 1.19 and 1.18). Finally, Allgreen Properties has penetrated its lower daily Bollinger band (1.14).
Supports and resistances: 1.25 *1.21 **1.19 1.13 last 1.09 1.06 **1.03 *
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Rally due for allgreen? Experts, need your advice on what is the support and resistance price for this stock.
Top property pricks by Kim Eng is Allgreen for small units with low absolute prices. Allgreen has 45% of its net asset value in investment properties and is most likely to benefit from the continued interest in small residential units. It values the stock at $ 1.52.
Technical View from The Edge
Not much 'meat' ! Today closed at $1.15, still trying to test near term support at $1.16. If this support level can't hold, will all the way to $1. Near term resistance at $1.20.
Make love more, don't make more enemies
Citibank's views are justified considering that Allgreen's NAV is worth S$ 1.51. Its stock price is trading at 77% of NAV. The difference of S$ 0.35 is what investors like Warren Buffet termed as Margin of Safety. At its peak in mid 2007, at the height of bull run, Allgreen was going around S$ 2.
Now the EPS is estimated to be around 11cents. At around 15% growth rate, Allgreen should be worth around 15 x 11 = S$ 1.65.
The other positive factor is that Allgreen often gives out very high dividend yield. In FY 2010 it gave out S$ 0.04
Another positive factor is Allgreen owns very huge landbank often holding for past 10 to 20 years and often in enbloc many years bank and is now reaping huge profits. These land are in prime area such as River Valley, Orchard, Bukit Timah and Holland area. Pls refer to Allgreen annual report.
Finally Allgreen is owned by Robert Kuok, the richest man in South-East Asia.
Allgreen Properties Ltd. (AG SP):
The Singapore-based developer controlled by Malaysian billionaire Robert Kuok was raised to “buy” from “sell” at Citigroup Inc.
The brokerage increased its share-price estimate for Allgreen to S$1.52 from S$0.93. The stock slipped 0.8 percent to S$1.18.
/ocbcsec
Allgreen is trading within a tight range. Nothing interesting at the moment.
http://mystocksinvesting.com/singapore-stocks/allgreen/allgreen-trading-with-a-tight-range/
Companies are usually valued on a combination of the underlying assets and their earnings which generate growth and dividends. For Property stocks, I think the value of a company comes from the assets it holds rather than the profit stream generated by the business.
Can anyone explain what the NAV of Allgreen consists of? Is it mainly land and buildings?
Thank you.
From DMG on Oct 19th.
Project #1:
Strong sales for Allgreen’s prime condo have justified our positive view on the high-end segment ...............
Suites at Orchard; Location: Handy Road; Tenure: 99-yr Developer: Allgreen Properties; Units: 118; Segment: Prime; District: 9 70% sold in 4 days. Allgreen sold ~ 70% of Suites at Orchard along Dhoby Ghaut by Sunday evening. 65 units were sold to Allgreen’s directors, staff and agents’ VIPs during soft launch on Wednesday/Thursday. Remaining 15 were cleared over the weekend to the general public. Showflat turnout was moderate, with 30 - 40 people during our visit. Pricing of S$2,000 – 2,200 psf was slightly above our expectations, a 25% premium over the S$1,700 psf fetched by nearby uncompleted Sophia Residences. Completed projects like 8 @ Mount Sophia and Nomu last sold for S$1,500 and 2,000 psf respectively (refer to Figure 1). 65% of buyers were locals, who saw rental/investment potential from proximity to MRT, schools (SMU and SOTA) and Plaza Singapura. Buyers bought mainly 1 and 2-bedders, with a couple of 3-bedders sold. Based on breakeven of S$1,170 psf (land: S$669 psf), PBT margin of 45% could be generated.
Hi There!
Welcome back! it's been a long time didnt see your post.
CHEERS!
star-trader ( Date: 31-Aug-2010 22:06) Posted:
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Massive sell-down has pulled Allgreen all the way to 1.00 stock. This might go further down based on the candlesticks and volume today.It will be good for this stock to get the ground-up first before investing in again.
Though it has been down so much, but I still will prefer for more obvious uptrend signal first before locking in again. I still remember once traded this stock at 1.12 and sold at 1.18, now it has goes all the way down to $1.00 stock.
Let's see how it turns out for the next 1 month before deciding again to trade in this stock or not.
Happy Trading!
Star-Trader
Tomorrow Allgreen will join the rank of penny stock (drop below $1) bcos of big hike in DC rates announced by MND tonite. It holds huge land banks & have to pay for higher DC rates when redevelopment takes place in future....all bad news coming at one go.!
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1078259/1/.html
Price drop due to recent government announced measure. But the drop been too much already.....
I guess will stop soon..
Allgreen is a proxy for mass market pte property prices. IF it crashed to 90c then pte property prices will drop likewise by 25%....very sudden turn of fortune.
i think the impact will come only when the property results are announce next month.
Hope that all green can have good sellout for the upcoming sales.
thanks.will the situation today.
See whether u can take the dip or not
should i sell first (bot @ 1.16) and wait till the dust settle after the cooling measures waned off?
IMHO, wait for it to drop a bit more..
sound great but trading at low volume.. wait patiently..