I've been holding Perdana for 3 months with a lot of patient seeing other counter flying....all research had buying call previously but wasn't going anywhere, hope this time will be different. Have high hope on this counter and Dayang.
.. unfortunately.. Kenanga gave a negative TP on Perdana.. that may pose a problem for it to trend upward.. even when its price is already quite low. Hope it can break the very persistence resistance @1.22 today..
Fortunately still have accumulation despite heavy sell queue (above 8k lots) at certain price for the past 3 days.. if not the counter will be worse. Whether next week onwards can sustain.. unsure.. to be seen.
Hmm.. looks like no more hope for this counter. Everyday drop even with any support whatsoever. Take profit or cut loss if you can. Brace for worse and gudluck everyone. More selling in the making..
The One: You ought to have a long term view to appreciate this stock. The selling is not as bad as you think considering what happen on the macro side. Also look at the most recent announcement to see why there is selling. Then look at the total volume and you should know when the selling will be done. It is because of that, I believe is not affected by macro which has affected many other stocks.
Soon people will realized it is temporary and climb back up to 1.20ish until the M&A happens. That's when you will reap huge reward.
Mililia.. I AM looking at the long term. Its better to take profit or cut loss now rather than losing a lot of the hard-earned cash later. Better invest in other counters where profits can be made and recover back the losses made in this downward trend counter, if any. In other words, its better to make the correct judgement now and leave the boat or suffer and sink later..
derrtan: its the conversion of warrants. if one wants to keep the same holding, they should get rid the excess before the conversion of the warrants.
Once the overhang is over, then the share price will re-rate back to 2.20ish. Then just wait for 2-3 months to see some announcement on corporate exercise. that's what i foresee, no guarantee, however.
I wonder..warrants is also not something new to Perdana...really worry when is the bottom...price almost close with armada now...down for 8 straight days without rebound ....only problematic share does that...if anyone have info, pls share
As I opined before, let this counter go. Its O&G and trending down.. hopeless. There are so many other potential counters to trade out there. Dont be stressed out.. gudluck.
Ferisc: Don't talk about call or put warrants. Those are punting instruments for punters. In actual fact it has no impact or whatsoever on the mother share. Call and put warrants is just a derivative instruments based on mother share and it is issued by investment banks.
What I am referring to is warrants that are issued by the company. Conversion of warrants that are issued by company will result in higher share base, i.e. more share. If I am the shareholders of Perdana and do not want to have higher exposure of Perdana as a result of the conversion, I will sell ahead first. Then when I receive the converted shares, my exposure remains the same.
Mililia... whats your target price for perdana? since you were saying possibility of M&A. I do feel at the current price of $1.1 and profit potential of perdana, it seems to be a very good entry price. Anyhow if M&A were to happen, i think it for sure wont hit rm2 bucks right ? hardly get to see M&A at 100% higher offer price
klsetrader: i only can say if it is sold at 1.6-1.8x book, then it will be around RM1.50-1.60. But bear in mind, this is before the delivery of another 2 or potential 4 Acommodation Working Barge in 2016, which are in demand.
The warrant expires on OCT. The qty of remaining warrant is just about 34million, compare to mother share of about 0.74billion. Even the full conversion occurs, it has only dilute the share base by less than 5%. In this case its has minimal impact on share price.
Even with good market sentiments today, Perdana cant even go up 1 sen. The selling queues are huge and looks like it will close red and continue its downward trend. My advise.. based on TA and reality, better leave now and recover losses, if any, in many other counters. Later when its price drop to 1.00 or below, then maybe can consider riding the boat again.
Note that with this sliding down price, its normal for all the research houses to come up with new TPs and SELL calls. Just think about it and the consequence..
Yes I am and just trying to help. When a counter is on a downward trend, dont hope and hold. Just cut loss, then identify some uptrending counters and recover the losses. If continue to hold.. means the loss will be larger and larger. Remember.. can always buy back later. Learn to let go and never hope or fall in love in a counter. Note that our share market is almost like gambling.. but "halal".. lol.. and fundamentals are already history.
Sorry derrtan.. I wish I can help but I look more on TA b'coz many of my friends loss money in this counter. Everyone knows the drop in oil prices.. but the continued drop in this counter for the past weeks has been.. yes.. a bit strange.. compared to other O&G counters.. as if a severe news going to announced soon.. (insider news?)
Remember, whatever I said.. its only my opinion. Observe, monitor and buy/sell based on your own decision. Like I said earlier.. stock market is almost like gambling. I do hope yer all make profit.. maybe later? Maybe some parties causing the panic selling.. who knows, right? But usually dont take this long.. bcoz accumulations by many parties at low prices will make the counter very hard to go up due to profit takings..
1.08 at PE of 9 will be reasonable base on current environment condition and compare with other small cap. With crude price still maintain around US 60/barrel, further drop below 1 could be trigger by hidden agenda. However it is just my guess only.
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