Potential downtrend line breakout. After tumbling 38.5% from 52w high of RM0.48 (9 Jan) to YTD low of RM0.295 (6 Feb and low Bollinger band), UMWOG has been trending sideways before closing last Friday at RM0.31 (19.5% below its BVPS of RM0.385). We believe the stock is grossly oversold and ripe for a downtrend resistance breakout soon in anticipation of better days ahead.
A decisive breakout above downtrend line near RM0.325 will likely to lift share prices higher towards RM0.355 (200d SMA and 61.8% FR) before testing our LT objective at RM0.38 (50% FR). On the flip side, key supports are situated at RM0.30 and RM0.295. A breakdown below RM0.295 will trigger further potential selldown towards 52w low of RM0.27 (24 Oct). Cut loss at RM0.28.

it's possible for umwog to reach TP : 0.44 by december 2018?

We attended UMWOG’s analyst briefing and walked away feeling positive. Key highlights as below:
The company incurred RM982m asset impairment loss in 4Q17 due to change in daily charter rate (DCR) assumption and WACC. The reasons for change in assumptions are due to slower than expected recovery in DCR and change in capital structure of the company post rights issue.
YTD rig utilisation rates have improved from 21% in FY16 to 70% in FY17 on the back of stabilization of crude oil prices due to OPEC production cut. However we expect that rig utilisation rates will fall to c.60% in 1Q18 as Naga 2 is warm stacked and Naga 4 is undergoing Special Periodical Survey and will only start its contract from 2Q18 onwards. Nevertheless, we understand that management is targeting rig utilisation rates in FY18 to at least match the level in FY17.
More than 50% of the global rig fleet are aged more than 30 years, indicating that significant number of rigs could be scrapped in the longer run and provide significant boast to the DCR.
For 2018, we understand that at least 12 jack-up rig contracts are available for tender in Malaysia. This is positive for UMWOG as being one of the only two local players in the industry, the company stands a fairly good chance to secure sufficient amount of contracts to replenish its order book.
At this juncture, the group is participating in 33 rig contract bids (of which 21 is in Malaysia) worth a total of US$812m, indicating potential winning of more rig contracts by the group.

TP 0.44 still big upside

Max2838

This impairment is a paper loss only in the books but has no actual impact on the Company's cash balance or cash flow. Cash balance in UMWOG has in fact improves. Cash flow balance is very important as an on-going concern.

up to u..im buying for long term..not buy today sell tomorrow..im investor not trader...will keep until brent oil change direction to downtrend..

tomorrow will up..

After reading thoroughly the result of UMWOG, in conclusion this 4th Q results showed significant improvement in revenue and gross profit vs previous year and preceeeding Q results. If you take away the impairment losses, there is actually a profit of RM 13.5mil vs a loss of RM 135.5mil in the 2016 Q4.

haha..kalau takut sila jual sekarang laa...kalau berani simpan saja..

dah kluar ke? koyak sgt ke

go go go

sell ka?

fuhh...very bullish brent oil...manyak bonus la oil and gas company

Direct (units) 3,036,006,227
Direct (%) 43.379

Amanah still have 43% after heavy selling..hmmm...3 billion unitss..

its good time to average down? or wait at 0.34?

can buy now?

can average down now?

yup..HH HL trend...

hmm..but the que can be manipulate rite?

take profit now or just wait until break 2.28?

what is the nearest resistance level ya?

can topup now? or wait until price stable?

possible to go rm2.80?

still have potential to go up? or take profit 1st?

hopefully can collect at lower price

ok tqq

ok..so enter after break 27c

what is the resistant? its safe to buy now?

can go in now?

drop so much..but very thin volume...big player still in there?

ok..so will be around 0.44

can go rm1?

go go

when expected can go to 2.50? 3 months can?

2.50 can ?

go go rm1

go go...rm1.20 first

go go 1.20

wau..go go

can in?

doji? sign of reversal of not?

can enter? reversal

haha...if x terbang..take profit je la..

opss..if then..monday la fly..hahaha

hopefully by tomorrow or friday will fly...

hopefully can repeat pattern 3 apr - 11 apr..

harap2 begitulah..

go go go

maybe 2-3 days...based on historical..it will spike after ~18-23 days..hope it will repeat the history

hopefully can fly soon..