omega008 No profit for me. In fact I lost about 50k but I still wanted to exit because I see no future for this stock. Better park my $ on other potential stocks.
S P Setia broke out from its 2-month bullish rectangle pattern with a long white candle yesterday, implying that its previous uptrend may have resumed. As the 20-day and 50-day EMAs have confirmed a bullish crossover since early January, the stock looks positive in the near term. A bullish bias may emerge above the RM0.95 level with stop-loss set at RM0.87, below the 50- day EMA. Towards the upside, near-term resistance level is seen at RM1.06, followed by RM1.10.
SP Setia’s 4Q23 results widely beat estimates with sequentially stronger earnings coming from higher contributions from its UNO (Stage 2) project in Melbourne and improved margins. FY23’s total sales of MYR5.1bn exceeded management’s MYR4.2bn target.
Trading volume before closing last Friday was unbelievable record high. 22 mio shares traded just in last 10 minutes snapped up at seller price, mostly bulk volume.
What is the outlook for the property market in Malaysia? According to a study conducted by Juwai IQI, an international real estate property transaction group, the buy-to-rent ratio for 2024 stands at 91.1% for purchases and 8.9% for rentals, signalling robust confidence in the real estate market. Anticipated increases in yields further support this positive outlook.16 Jan 2024
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Ninja _07
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Posted by Ninja _07 > 2 months ago | Report Abuse
Probably