Oceanus is moving sideway for the time being until a clearer direction. If Oceanus moves below $0.32, the Head and Shoulders pattern is still valid with a price target of $0.18. Oceanus has to move above $0.35 (200D MA resistance) to start up trend. This $0.32 level is significant because it is 61.8% Fibonacci Retracement Level. This level is a good support level if Oceanus starts an uptrend.
For long term investment, current level can be considered a good entry level as fundamentally Oceanue financial (base on FY2009 Financial) is good:
- PE = 8.5 (base on FY2009 EPS of $0.03786)
- ROA = 16.0
- ROE = 22.3
- Net Margin = 94%
- Current Ratio = 5.4
Draw back for this stock:
- No Dividend
- Not liquid
- Stock has been traded between 0.32 to $0.41 for the past 12 months. Your money will get stucked if you enter at the wrong price.