Rotary Engineering breakout from Inverted Head and Shoulders with a huge spike in volume. Target price for this breakout is about $0.58. It is better to wait for the retracement to test the 200D SMA and also the neckline before jumping in.
Is COSCO finding a bottom and reversing the trend? Not yet. Need to wait for the following patterns to happen:
Base on current chart, looks like COSCO is finding a good support at $0.855.
| Current P/E Ratio (ttm) | 16.3569 |
|---|---|
| Estimated P/E(12/2012) | 18.3333 |
| Relative P/E vs. FSSTI | 1.3548 |
| Earnings Per Share (SGD) (ttm) | 0.0538 |
| Est. EPS (SGD) (12/2012) | 0.0480 |
| Est. PEG Ratio | 114.5833 |
| Market Cap (M SGD) | 1,970.54 |
| Shares Outstanding (M) | 2,239.25 |
| 30 Day Average Volume | 8,953,933 |
| Price/Book (mrq) | 1.5700 |
| Price/Sale (ttm) | 0.4833 |
| Dividend Indicated Gross Yield | 3.41% |
| Cash Dividend (SGD) | 0.0300 |
| Last Dividend | 04/30/2012 |
| 5 Year Dividend Growth | -5.59% |
| Next Earnings Announcement | 02/22/2013 |
Looks like SGX is reversing the trend after breaking out from the down trend channel. If SGX is able to hold above the $6.66 support (also 20D SMA), this trend reversal (to up trend) is confirmed. Immediate resistance is at $6.80 which is also the 61.8% Fibonacci Retracement level. There is also a possibility of forming an Inverted Head & Shoulders with neckline at $6.80.
