HomeStory Archive2010 HI-LITE: Technical analysis of CJ FERTILIZER, CHINA NEW TOWN, Z-OBEE
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HI-LITE: Technical analysis of CJ FERTILIZER, CHINA NEW TOWN, Z-OBEE
Written by Charlie Lau
Sunday, 14 February 2010
Technical indicators are still on an uptrend.
CJ FERTILIZER
25.5 c (Feb 12)
52-week Hi/Lo
39.5 c/20 c
Dividend yield (trailing 12 months)
Nil
Historical PE ratio
Nil
Net Asset Value
14.9 c
No. of issued shares
360 m
Market cap
$82.8 m
CJ Fertilizer was listed in October 2009, opening at 39.5c and slipping down to 31.5c on the first day.
Two weeks later the share price was at its lowest, 20c.
Closing at 25.5c on 12 February 2010, the share price of CJ has pierced up two Moving Averages and should try to test the 3rd Moving Average at 26.5c.
The ultimate targets are the next Hi at 31c and 33.5c.
The 14-day Relative Strength Indicator & the 5-day Stochastic Momentum are still on an uptrend so the first target of 31c should not be a problem.Should the share price turn down to break the 24c support, run for your life.
China New Town is attempting to test the 13-cent level
CHINA NEW TOWN
11 c (Feb 12)
52-week Hi/Lo
15.5/2 c
Dividend yield (trailing 12 months)
Nil
Historical PE ratio
Nil
Net Asset Value
16.4 c
No. of issued shares
2,005 m
Market cap
$329.8 m
ChinaNTown is involved in China property development, golf & hotel management and investment property leasing.
With trailing losses, company returned to the black in 3Q09.
When the general stock market in Singapore was bullish in early January 2010, ChinaNTown fell off to sleep from 14c to 10.5c with very Lo volume.
It is now attempting to test the 13c level.
Without a consistant daily volume of 20m shares it is difficult for ChinaNTown to hit 13c as seen in the weakening ofthe 14-day Relative Strength Indicator.
If the critical support, 10.5c is broken, good-bye.
If the support at 30 cents is broken .....
Z-OBEE
33.5 c (12 Feb)
52-week Hi/Lo
40.5/2.5 c
Dividend yield (trailing 12 months)
Nil
Historical PE ratio
27
Net Asset Value
15.6 c
No. of issued shares
498 m
Market cap
$170.8 m
Z-obee, a phone & phone paraphernalia outfit under the popular brand name, “VIM” in China, seems to be a speculators' “darling” from December last year.
Interest was based on its hope of dual-listing in the Stock Exchange of Hong Kong.
From the chart point of view the share price, 14-day Relative Strength Indicator and the 5-day Stochastic Momentum are all turning up.
Share price should be able to test the previous Hi, 38.5c and 40.5c. If the support at 30c is broken, readers should know what to do.
Charlie Lau. Photo by Joan Kuan
Charlie Lau (
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
), a trading representative at UOB Kay Hian, has spoken regularly at seminars on technical analysis.
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