Raffles Medical: Can the Support Hold?

  • Post author:

Raffles Medical is currently testing the long term up trend support and also the neckline support of the Double Tops chart pattern.  This support level is at about $2.20.  Breaking down from the Double Tops may send Raffles Medical to price target of $2.05. Currently Raffles Medical PE ratio is 26.3 (base on $2.25) which is higher compare to Medical and BioTechnology sector average PE of 16.2.

  • PE (Rolling) = 25.5
  • PE (FY2010) = 26.3
  • PE (FY2009) = 31.4
  • PE (FY2008)  = 37.7
  • PE (FY2007) = 33.1

 

Fundamental Analysis (base on FY2010):

  • EPS = $0.08571
  • Net Operating Cash Flow = S$49.2 Million (Positive and Stable Net Operating Cash Flow for past 4 years)
  • Net Profit Margin: 18.9%
  • ROA = 12.2%
  • ROE = 15.8%
  • Current Ratio = 2.1
  • Debt to Equity Ratio = Debt Free

Fundamentally strong stock with stable earning and positive operating cash flow year over year. However, current stock price is not cheap for long term investment. Wait for the correction to accumulate.

Continue ReadingRaffles Medical: Can the Support Hold?

COSCO: Can this Neckline Support Hold?

  • Post author:

COSCO has failed to break the 200D MA resistance and bounced down to test the neckline of the Double Tops chart pattern now. COSCO may rebound from this neckline support to test 20D MA resistance.

Things to watch:

  • Whether COSCO can break above this 20D MA resistance.
  • Whether COSCO can break this neckline which is also the significant 61.8% Fibonacci Support.

Breaking the neckline confirms the Double Tops Formation and the break down price target is $1.32.

Also see previous analysis on COSCO here.

Continue ReadingCOSCO: Can this Neckline Support Hold?

COSCO: Double Tops Formation

  • Post author:

COSCO Corp is forming a Double Tops chart pattern which is a trend reversal chart pattern. The neckline is at about $1.86 which is the 61.8% Fibonacci Support Level. Breaking below this neckline will confirm the Double Tops formation and will send Cosco share price down to target price of $1.32.

Please also take note that COSCO has broken the 200D MA support and will be retesting this 200D MA. If this 200D MA support turned into resistance, COSCO will start the down trend and head towards the neckline.

Continue ReadingCOSCO: Double Tops Formation