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Stock Watch: Sinomem
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dragonpnk
Member |
18-Apr-2010 11:51
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Coming week will be a crucial period for this counter. It has undergone correction on Thursday and Friday. Immediate support at $0.58 (10d MA line) and resistance at $0.61. If this counter closes with volume > 3.7M and closed higher than $0.595 on Monday, it would be a very positive sign of upwards movement. Of course, the direction of STI is also another determining factor. Glue your eye on this counter if volume spike occurs, in the coming days. |
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dragonpnk
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15-Apr-2010 12:11
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Huge profit taking this morning (esp at 0.630 level)...which is normal since this counter has risen substantially. It is normal for consolidation phase to kick in before further upside...just like taking a breather to sustain a marathon run. Quoting a fellow counter - UtdEnvirotech which had undergone consolidation earlier. 
There are huge volume loading up at 0.615-0.620 level this morning, which is a good sign....great interest for this counter. |
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dragonpnk
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15-Apr-2010 07:56
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Based on past 3-year data, $1.64 was the highest point. Frankly, I do not know if it could hit $1.64 again. Probability is very low to hit such level within this qtr. If this company continues to be profitable and shows better than expected growth (qtr-on-qrt and yr-on-yr EPS growth), I would say YES. 52wks high data is more realistic (rather than looking at historical high at this point in time) and well within reach. Personally, I expect this counter to hit $0.63-$0.73 within these few weeks, provided market sentiment remains positive. Ultimately, it is very much a supply and demand game. Since you are vest at $0.20 (rich man already), you can either set a sell point or continue to hold based on all the available information on this counter. |
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sureesh40
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14-Apr-2010 15:00
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But what was it's historic high and do you think it can go to that level again. Vested at $0.20
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dragonpnk
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14-Apr-2010 12:48
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This morning, we saw this counter testing the $0.63 resistance level. Retreat to $0.62 therafter. Trading volume remains high at 8.2M by noon (@ 50% level from yesterday's volume). Watch out if it breaks out the $0.63 level with higher volume. Potential for further upside. If it closes lower or at the previous price, stock price may consolidate (move sideways) before the next upward move. |
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dragonpnk
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13-Apr-2010 15:09
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This counter has touch the $0.60 mark. Investors may have thought that it is already too late to BUY but the possibility of upside remain great. 52 week high was at $0.73 and recent high was at $0.63. The fall from $0.63 was mainly due to WW market correction back in Jan 2010. Many Wall Street stock have touched and break their 52-week high level lately and I believe Singapore stocks is of no exceptions. Of course, the market has to stay its course which is prerequisite for higher highs. 
Will let you decide what you want to do with this information...... ;P |
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dragonpnk
Member |
13-Apr-2010 11:39
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Hits a high of $0.595 this morning and retreated slightly to $0.585. Expect this counter to test today's resistance level ($0.595) soon. Morning trading volume is approx equal to 12 Apr day-volume (>6M shares traded). If this counter closes higher today, near $0.59 level, do expect another leap in price tomorrow. As mentioned earlier, outlook is very positive. Waiting for AGM announcement....should be out by month end. 
Also note that market condition could impact today's price movement. STI is marginally in the RED (recovered almost 50% from 9:00am level). |
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dragonpnk
Member |
12-Apr-2010 11:26
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Hit 0.58 level earlier than expected. However, it rolled over to $0.565 as insuff volume to sustain further break out. Will see the counter testing this level again in the coming days. Outlook for this counter is positive and if it is able to hold at 0.58 level by the end of the week, expect it to hit 0.62 level next. HINT: check out the unaudited financial report released on 1 Mar. Industry benchmark (fellow undervalued counter): United Environtech which has moved from 0.285 to 0.340 is less than 2 weeks. I would expect futher upside for this counter after AGM - Final Annual Report and Dividend. Don't miss out on the bandwagon...the decision is yours to make.....
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dragonpnk
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08-Apr-2010 11:15
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Utd Envirotech (in the same industry as SINOMEM/HYFLUX) shot up this morning... Is Sinomen the next in line? |
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dragonpnk
Member |
08-Apr-2010 08:52
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UPTRENDING! - Price above 14d, 50d and 100d MA. - MACD(12,26) is above the Signal line(9) - %D (76.8%) line is above Stochastic %K (14d) 66.6% - trading volume is high for the past 7 days. Personally, I would put it at $0.58 or greater by month end, if trend continues. Keep an eye on this counter for the coming days/weeks...especially on volume surges.  Always trade with care and vigilance. |
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dragonpnk
Member |
07-Apr-2010 18:55
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Held at $0.555 until the very last minute. 
Good for those who managed to load up at the last minutes..... ;P |
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dragonpnk
Member |
06-Apr-2010 11:17
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Immediate resistance @ $0.555. Trading at the mid range of resistance-support zone. Above the 14d MA line. Potential further upside if it could break the immediate resistance. Stock price is testing this resistance level. Has potential to climb further. Keep watch is it crosses the $0.555 line. 
As always, trade with care and vigilance. |
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dragonpnk
Member |
01-Apr-2010 12:32
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Broke out of resistance. Insufficient volume to propel this counter further. Keep a look out for volume spike, and the wave will carry it up further. 
........"Sinomem has decreased by about 0.5% while trading volume of the last trading day is higher than the average volume over the past 50 days. MacD line is above the signal line indicating some short-term price strength." from UOBKH. |
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