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SYNEAR - PUNT OR INVEST!
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redash
Member |
09-Jul-2008 17:10
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My TA shows that this stock just broken the very strong resistance line at 0.44 and further more, it had finally pierce through the 2 down trending lines dated back 10th Jan and 2 April... Does this shows a good sign to buy? Any TA comments please? Afriad using wrong TA technique again >_< |
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redash
Member |
09-Jul-2008 15:54
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Already out XP My TA shows 0.44 is a VERY STRONG resistance line, it is broken, so OUT I go! |
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CWQuah
Master |
09-Jul-2008 15:48
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Redash, Watch out on Synear. Now trading 44.5/45.0. Hope you know where to impose stops. |
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redash
Member |
09-Jul-2008 15:36
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I see, Did not go much into other areas, only on the softening of yuan ... But that strong commodity and softening of yuan and the sudden rally somehow raise a "ting" in me... ... will cut lost as appropriate if it raise higher ... Thx for yr advice, Learnt something more >;^) ~ Still hope my TA wont disappoint me XP |
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CWQuah
Master |
09-Jul-2008 15:17
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Redash, I think my message may not be clear enough (I did mention I would not be shorting this, as I saw more strength than usual. Not vested.) - When I mentioned at best this would drop to 42.5c, it means a lot of factors must fall into place: 1. SSE must crash. It didn't but closed at day high. 2. Asian selling pressure seems to have abated. 3. Synear did not violate the conditions for uptrend to fail. Now still uptrend. Made new highs for last few days. DON'T EVER fight the main trend. 4. Synear already tested AND was well supported at 40c. 5. Still above its opening price. 6. 42.5c coincides with 2 previous lows... I won't know if it will test this again within today but I really dun think so. Pls exercise caution... |
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redash
Member |
09-Jul-2008 15:00
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Sry typo .435 >_< |
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redash
Member |
09-Jul-2008 14:57
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Got in a short position at 0.44 and it immediately drops to 0.535 >=D TA TA TA! |
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redash
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09-Jul-2008 14:37
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Nice! My analysis shows .415 ~ .425 range as well =D |
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CWQuah
Master |
09-Jul-2008 14:34
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I would avoid shorting this. There is more strength to this than usual. At best it would fall to 42.5c. |
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redash
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09-Jul-2008 14:23
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My TA suggests me to short this one... I was wondering anyone has the same analysis output as mine.... new to this counter... Kinda strong overall negative sentiment here... |
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freeme
Elite |
26-Feb-2008 12:15
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Song Song.. nicky.. |
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limhpp
Veteran |
26-Feb-2008 12:06
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Free fall |
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nickyng
Supreme |
26-Feb-2008 11:53
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aya..if u help me to SHORT further...then it will go down loh...hehehe.... :P |
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Brendan982201
Member |
26-Feb-2008 11:45
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will go down some more?? |
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nickyng
Supreme |
26-Feb-2008 11:26
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adversity creates opportunities !!! hee...SHORT or CONTRA vice versa !! ...heee :D |
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Brendan982201
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26-Feb-2008 11:21
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so will it drop further? now it is at 0.765 |
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knightrider
Elite |
26-Feb-2008 11:12
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Disappointing results; Downgrade to SELL
Synear reported 4Q07 earnings decline of 50%yoy to RMB64mn, which were
57% below our numbers and consensus. Given its challenging near-term
prospects, we downgrade the stock from BUY to SELL.
4Q07 earnings decline of 50%
Synear achieved flat 4Q07 sales growth (versus projected 28%) despite raising
capacity by 22% since July 07. The slow ramp-up in new capacity has led to the
lower than expected sales. Separately, gross margins declined 780bps to 28%
resulting in gross profits decline of 21%. It also witnessed higher selling and
distribution (+14%) as well as admin (+8%) leading to 39% decrease in operating
profits. There is also a withholding tax of RMb14mn charged on 10% of dividend
paid by Zhengzhou Synear to its BVI holding company, Art Advanced. The
combination of above factors led to the earnings decline in 4Q07.
Challenging times in 2008
Synear?s FY07 earnings grew 17%yoy to RMB476mn on the back of 19% sales
growth. Given the weak execution of its expansion, we believe the group could
face a challenging 2008 especially in 1H08. Apart from rising cost pressures, the
group would also have to deal with higher tax rates from 2008. With the high
earnings base in 1H07, Synear would likely face profits decline for the next two
consecutive quarters.
Bear case suggests 26% downside to FY08E earnings
Although we remain positive on the long-term growth of frozen convenience food
industry in China, we believe investors are likely to focus more on the near-term
negatives. In our last update (Synear Food Holdings Ltd., 12 February 2008), our
bear case scenario suggested 26% downside to our FY08E earnings. This
implied the stock?s valuation would change from 12x to 15x FY08E P/E. Given
the dismal set of results, we now believe the stock could de-rate below its
historical low of 12x forward P/E. As such, we are downgrading the stock from
BUY to SELL
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cyjjerry85
Elite |
26-Feb-2008 11:09
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ahhhhhhhhhhh........its going down further...i shorted last week using CFD at $1.04...bought back today at $0.85...darnz.... as mentioned...it is breaking all time low...don't catch this falling knife k...very dangerous seriously |
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Fairygal
Veteran |
26-Feb-2008 11:06
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Now 77 cts. |
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idesa168
Elite |
26-Feb-2008 11:05
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nick I joined you at 81¢...hehehe |
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