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Koon Yew Yin's Blog

Author: Koon Yew Yin   |   Latest post: Wed, 27 May 2020, 11:40 PM

 

Dayang's Rapid Rise Defies Gravity - Koon Yew Yin

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My sole purpose in writing this piece is to advise short term day traders before they lose their under wares.

As I said many a time, no stock can go up continuously for whatever reason. After some time, it must correct itself.  Dayang is an exceptional case. While I am writing ( 10.30 am ) it has gone up another 15 sen with 50 million shares changed hands after 1.5 hour of trading. Institutional investors are responsible for buying such huge volume.

 

Dayang price chart shows that it has shot up from 60 sen to trade at Rm 1.55 within 6 weeks. Moreover, the price corrections in the last few occasions have been so mild. After dropping a few sen, it continues to rise a lot more than it dropped. As a result, all day traders would have lost money because they could not buy back at cheaper prices. They must remember they will lose more money if they delay in buying it back because my target price of Rm 3.00 is easily achievable as I explained in my previous article called “Dayang: what is My Target Price?”.

The reason why Dayang’s rapid rise defies gravity is because institutional investors are rushing to buy aggressively in believing that my target price of Rm 3.00 is easily achievable. 

My Target Price

 

Acceleration of Profit Growth 

You can see from the above table that its EPS for the last 4 quarters were -2.21, 4.03, 5.05 and 10.13 sen. 

Based on the following facts:

  1. Secured 5 new contracts as mentioned above.
  2. Accelerated rate of increase in profit.
  3. No more delay by monsoon.

Institutional analysts can foresee that the next quarter EPS will be higher than 10.13 sen. That is why the price is going up higher and higher almost every day.

What will be the price if the company reports a higher than 10.13 sen EPS for the next quarter?  I strongly believe my target price of Rm 3.00 is easily achievable.

 

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Labels: DAYANG

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