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From wat I see at the candlestick chart, the 52 week high is 0.91 on 11/6/08
followed by 1.00 on 22/8/06 n 11/9/06.
Obviously, the 52 week high will be a resistance, but resistance does not necessary
mean it will reverse when it is hit but just be alert for any reversal sign when it gets near it.
Livermore ( Date: 24-Jul-2009 19:50) Posted:
Agree with richtan and this one seems to be consolidaing before next surge
dealer0168 ( Date: 24-Jul-2009 19:13) Posted:
| Hi RichTan, after breaking 0.835....what will be the next resistance level. And will the 52 weeks record ( $0.885) high become a resistance to it |
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Agree with richtan and this one seems to be consolidaing before next surge
dealer0168 ( Date: 24-Jul-2009 19:13) Posted:
Hi RichTan, after breaking 0.835....what will be the next resistance level. And will the 52 weeks record ( $0.885) high become a resistance to it?
richtan ( Date: 24-Jul-2009 00:27) Posted:
Below is my daily chart analysis for sharing and exchange pointers.
My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.
If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start
making unconstructive comments and plse do not be so childish or lunatic as to abuse the
rating system by rating it as "bad post", accumulating for yourself and your
next generation, "bad" karma for your "bad" deeds.
If u think it is a bad post, then be constructive and kindly post your TA for sharing.
This is only my view n I may be right or wrong, so dyodd.
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Hi RichTan, after breaking 0.835....what will be the next resistance level. And will the 52 weeks record ( $0.885) high become a resistance to it?
richtan ( Date: 24-Jul-2009 00:27) Posted:
Below is my daily chart analysis for sharing and exchange pointers.
My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.
If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start
making unconstructive comments and plse do not be so childish or lunatic as to abuse the
rating system by rating it as "bad post", accumulating for yourself and your
next generation, "bad" karma for your "bad" deeds.
If u think it is a bad post, then be constructive and kindly post your TA for sharing.
This is only my view n I may be right or wrong, so dyodd.
|
|
Below is my daily chart analysis for sharing and exchange pointers.
My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.
If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start
making unconstructive comments and plse do not be so childish or lunatic as to abuse the
rating system by rating it as "bad post", accumulating for yourself and your
next generation, "bad" karma for your "bad" deeds.
If u think it is a bad post, then be constructive and kindly post your TA for sharing.
This is only my view n I may be right or wrong, so dyodd.
Which business do not need funds to expand especially when u got a few hundred million deal.. Maybe will go back to $1.80 like last time.. Those days midas dun have so many contracts can hit 1.80 now with all the annouce deals worth only 82cent..( u do a calculate risk see worth the bet)
300milion deal at 10% profit also got 30mil profit... Woah....
Sweet.. I am vested 30% of the portfolio + margin (long on the counter)
ronleech ( Date: 18-Jul-2009 23:05) Posted:
| Borrow and get money from DBS to fund their expension? More like pawning....? They have to pay interest...........Final winner...DBS |
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I got it tong ba lak huh? Then i also donno why...but 1 thing for sure...DBS dont make loss money business....looks like is a loss loss situation, then, the more we should pump...something surely up for this counter...heard 2nd phase contract of 300++ train is alomst in their reach....
No leh....you got upside down.....DBS is paying interest.....the question here is ....why?
ronleech ( Date: 18-Jul-2009 23:05) Posted:
| Borrow and get money from DBS to fund their expension? More like pawning....? They have to pay interest...........Final winner...DBS |
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Borrow and get money from DBS to fund their expension? More like pawning....? They have to pay interest...........Final winner...DBS
But.....CEO Chew and ED Chen just lent DBS 120M shares......when I borrow share...what do I do with it ?
Their shareholding has dropped to 3.64% and 17.16% respectively.
yipyip ( Date: 18-Jul-2009 19:38) Posted:
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Recommendation: BUY^
Average new Target Price: $0.96*
OCBC, 17/Jul/09, Maintain BUY^. Fair value is raised to S$0.93*
Don't miss this train; we have not factored in more possible wins from NPRT:
With the upcoming 2nd tender and its demonstrated contract win success in the 1st tender, the potential for better earnings and visibility notches the investment profile of Midas up yet again. The dilution is partially buffered by new capacity coming online in 2H10. Our fair value is raised to S$0.93 (prev. S$0.90) on a higher 18x (prev. 16x) FY10F peg. We have not factored in more possible wins from Nanjing Puzhen Rail Transport (NPRT).
DMG, 17/Jul/09, Maintain BUY^. Adjust our target price to S$0.97*
Recommendation:
EPS dilution would result from this share placement exercise. Currently valued at 22.0x FY09F P/E & 13.8x FY10F P/E and assuming that Midas trades up to the 35% discount of its China-listed peers (derived from applying the P/E of the Singapore market which trades at a 35% discount to the Shanghai Composite Index) at 20.1x blended P/E FY09/10, we maintain our BUY recommendation and adjust our target price to S$0.97 (from
S$1.04 previously).
CIMB, 17/Jul/09, Maintain BUY^. Target price has been trimmed to S$0.87*
Forecasts raised by 5-24% for FY10-11:
With the anticipated capacity expansion and contract awards, we raise our forecasts for FY10-11 by 5-24%. However, our DCF-derived target price has been trimmed to S$0.87 from S$0.88 (unchanged WACC of 9.5%), taking into account the profit growth as well as EPS dilution. This translates to 16x CY10 P/E, slightly above valuations for China-based peers. As we highlighted in our note on 16 Jul 09, we continue to advise caution against overpricing Midas on the back of the current market euphoria. Maintain Trading Buy.
KIM ENG, 17/Jul/09, Maintain BUY^. New TP of $1.10*
More rabbits in the hat:
With extrusion capacity largely accounted for, we now believe further upside to our earnings estimate will likely come from more downstream fabrication contracts, NPRT (Nanjing SR Puzhen Rail Transport Co) contracts and possible addition of third and fourth extrusion lines. We have adjusted our FY10 net earnings by 10 per cent and derive a new TP of $1.10, based on 18x FY10 PE. Maintain BUY
DBS, 23/Jun/09, Maintain BUY^. Target price raised to S$0.93*
Huge contract wins bolster earnings visibility:
We raise our target price by rolling over our valuation multiple of 15x PE (unchanged) to FY10 earnings (from FY09//10) as Midas’ earnings visibility has improved substantially following these contract wins. HK-listed peers, CSR Zhuzhou and China South Locomotive, are trading at over 20x earnings. Maintain BUY
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Recommendation: BUY^
Average new Target Price: $0.96*
OCBC, 17/Jul/09, Maintain BUY^. Fair value is raised to S$0.93*
Don't miss this train; we have not factored in more possible wins from NPRT:
With the upcoming 2nd tender and its demonstrated contract win success in the 1st tender, the potential for better earnings and visibility notches the investment profile of Midas up yet again. The dilution is partially buffered by new capacity coming online in 2H10. Our fair value is raised to S$0.93 (prev. S$0.90) on a higher 18x (prev. 16x) FY10F peg. We have not factored in more possible wins from Nanjing Puzhen Rail Transport (NPRT).
DMG, 17/Jul/09, Maintain BUY^. Adjust our target price to S$0.97*
Recommendation:
EPS dilution would result from this share placement exercise. Currently valued at 22.0x FY09F P/E & 13.8x FY10F P/E and assuming that Midas trades up to the 35% discount of its China-listed peers (derived from applying the P/E of the Singapore market which trades at a 35% discount to the Shanghai Composite Index) at 20.1x blended P/E FY09/10, we maintain our BUY recommendation and adjust our target price to S$0.97 (from
S$1.04 previously).
CIMB, 17/Jul/09, Maintain BUY^. Target price has been trimmed to S$0.87*
Forecasts raised by 5-24% for FY10-11:
With the anticipated capacity expansion and contract awards, we raise our forecasts for FY10-11 by 5-24%. However, our DCF-derived target price has been trimmed to S$0.87 from S$0.88 (unchanged WACC of 9.5%), taking into account the profit growth as well as EPS dilution. This translates to 16x CY10 P/E, slightly above valuations for China-based peers. As we highlighted in our note on 16 Jul 09, we continue to advise caution against overpricing Midas on the back of the current market euphoria. Maintain Trading Buy.
KIM ENG, 17/Jul/09, Maintain BUY^. New TP of $1.10*
More rabbits in the hat:
With extrusion capacity largely accounted for, we now believe further upside to our earnings estimate will likely come from more downstream fabrication contracts, NPRT (Nanjing SR Puzhen Rail Transport Co) contracts and possible addition of third and fourth extrusion lines. We have adjusted our FY10 net earnings by 10 per cent and derive a new TP of $1.10, based on 18x FY10 PE. Maintain BUY
DBS, 23/Jun/09, Maintain BUY^. Target price raised to S$0.93*
Huge contract wins bolster earnings visibility:
We raise our target price by rolling over our valuation multiple of 15x PE (unchanged) to FY10 earnings (from FY09//10) as Midas’ earnings visibility has improved substantially following these contract wins. HK-listed peers, CSR Zhuzhou and China South Locomotive, are trading at over 20x earnings. Maintain BUY
Like I said this morning, it's a good thing. Institutional investors will raise the profile of this company and they won't sell when they make a few cents. They are usually in for the long haul or perhaps 20 to 30% profit (hopefully even more).
Midas closed 0.815 - so not too bad, isn't it?
Personally, I like this counter very much. Too bad it's an S-Chip, if not I'd commit even more. Then again, the whole China Infrastructure priming program is quite detached from the downside coming from other parts of the world - the whole business world, for that matter....Midas can turn out to be quite a star. To me it's already one, albeit a tiny bright spark for now.
Well seems like good news....pumping money to increase production and make more money....CHEONG Arrhhhhhhh...........
OCBC
By Kelly Chia
Fri, 17 Jul 2009, 09:55:25 SGT
Our fair value is raised to S$0.93 (prev. S$0.90) on a higher 18x
(prev. 16x) FY10F peg. We have not factored in more possible wins
from Nanjing Puzhen Rail Transport (NPRT). Maintain BUY.
Summary:
Midas Holdings (Midas) has opted for the equity route to fund
two new production lines. Midas will be issuing 100m new shares with a
20m top up option at S$0.755/share. We are assuming the full 120m to
be placed out in view of the positive long-term prospects of the company.
This translates to 14.2% of the current issued capital. The urgency in
getting its two new lines up is primarily to be in the running to obtain
a sizable chunk of jobs from the Ministry of Railway’s (MOR) ongoing
2nd tender. Contract awards to component manufacturers like Midas will
likely be in Oct – Dec 09. The two new lines will be located with its
upcoming 3rd line and should be working in 3Q10 and 4Q10. We believe
that more machinery for downstream processes will also be purchased.
The potential for better earnings and visibility notches the investment
profile of Midas up yet again. The dilution is partially buffered by
new capacity coming online in 2H10.
Wow! buying frenzy going on.
yah lor totally agree!!! sold mine at a lost. i don't mind they raise money BUT MUST DO IT FAIRLY. from the trade distrubition - sold to buyer 18, 736lots & bought from seller 14,248lots that's abt 4,000lots (seller>buyer) see no more confident liao.
not calling to sell /buy u decide, just voice my opinion
178investors ( Date: 17-Jul-2009 14:58) Posted:
For your money health sake, don't jump in today to buy thinking it's cheap. Just recap, midas gave those roti-prata chiefs at buffett price 775. Surely you must be smarter than them chiefs right? Must buy lower than them right? Remember, those roti-prata chiefs are not strategic investors, just opportunists out to make quick buck too from the placements.
Also, many old investors of midas also disappointed that they got diluted after being assured many times that no placements or rights will be done, only using internal cash and some bank loans to fund future expansions. Now, suddenly renege and do placements. How can like that? You can still trust next time someone tell you "no more placements, no right issues, no this no that?"
aiyoh, how ah? better to sell midas or buy? you decide. |
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For your money health sake, don't jump in today to buy thinking it's cheap. Just recap, midas gave those roti-prata chiefs at buffett price 775. Surely you must be smarter than them chiefs right? Must buy lower than them right? Remember, those roti-prata chiefs are not strategic investors, just opportunists out to make quick buck too from the placements.
Also, many old investors of midas also disappointed that they got diluted after being assured many times that no placements or rights will be done, only using internal cash and some bank loans to fund future expansions. Now, suddenly renege and do placements. How can like that? You can still trust next time someone tell you "no more placements, no right issues, no this no that?"
aiyoh, how ah? better to sell midas or buy? you decide.
We, kacang putay, can do nothng lor...
i think they(most investors) really curse this counter, they(MIDAS) are not treating small investors fairly, they should go for PUBLIC NOT PRIVATE placement that's why counter kena hammer down. in maket we are talking confident otherwise it's dead. why? big investors BIG and small investor small in their(MIDAS) mentalilty. mind them every drop of water make an ocean. currently i suspect BB (those who get the discounted shares) trying to push up the price.
