As shown on the chart below, Sendai has been dropping in the last few days. Today all shareholders must be wondering to sell, hold on or to buy some at a cheaper price.

My friend who is an expert in reading price chart sent this chart below. After checking it carefully, he said that Sendai is still on an uptrend and 35 sen is still a strong support. The weekly chart shows a cup and handle formation. He also said its resistance is at 0.41.

Currently, many shareholders who have it at cheaper prices are selling to take some profit because they are afraid that it might continue to drop.

My advice is not to sell Sendai because it is just under price correction. You can see from its report for the quarter ending December 2023 the following:

1. Revenue Surge: The company’s revenue for FY2023 surged to RM1.45 billion, up from RM905.30 million in the previous year1. This significant increase was driven by progress on Middle East projects.
2. Gross Profit:
   Turnaround: Eversendai highlighted a gross profit of RM177.2 million in FY2023, a substantial improvement from the RM29.5 million gross loss in FY20221. This turnaround was a result of their proactive approaches and innovative construction methodologies.
3. Net Profit: For the full year, Eversendai registered a net profit of RM26.62 million in FY2023, compared to a net loss of RM361.52 million in FY20222. This positive shift reflects their recovery path and successful project execution.

Overall, Eversendai’s commitment to excellence, safety, and consistent performance has contributed to their growth and sustained success in complex construction projects across Asia and the Middle East.

Revenue for FY2023 surged to RM1.45 billion from RM905.30 million the previous year, it said in a filing with the stock exchange today. Eversendai highlighted a gross profit of RM177.2 million in FY2023, a significant turnaround from the RM29.5 million gross loss in FY2022, largely attributable to progress on Middle East projects.