Fitters Diversified (FIT MK) Technical BUY with +13.7% potential return Last price : RM1.17 Target Price : RM1.28, RM1.33 Support : RM1.10 Stop-loss: RM1.09 BUY with a target price of RM1.33 with stoploss below RM1.09. FIT’s share price surged past the immediate resistance of RM1.10 on 18 Jul 14 and hit a new high at RM1.19 after that. With the share price making a “return move” to RM1.10 (now support), it has rebounded and formed a classic “1,2,3 formation” with FIT consistently climbing along the 10-day SMA line. A rising trading volume in the past 2 days along with positive readings in both MACD and Stochastic should signal continuation of the recent uptrend with potential breakout above the previous high of RM1.19 in the cards. A violation above the aforementioned level would kick-start another up-leg as we peg our medium-term upside target at the 1.61x Fibonacci extension level of RM1.33. Expected Timeframe: 1 week to 2 months
The Board of Directors of FITTERS is pleased to announce that Molecor (SEA) Sdn Bhd, a 65% owned subsidiary of the Company has obtained a licence from SIRIM QAS International Sdn Bhd to use the SIRIM Certification Mark for its PVC-O pipes and joints.
This accreditation, which is in compliance with the ISO 16422:2006 certification, allows Molecor (SEA) Sdn Bhd to supply PVC-O pipes nationwide for use in water distribution pipeline. The Company is investing approximately RM90 million in capital expenditure to set up the first phase of its PVC-O manufacturing facility in Gebeng, Kuantan. This includes land purchase, construction of the facility and installation of the initial three (3) production lines. The Company's focus now is to expedite the construction and complete it by the fourth quarter of 2014, in order to bring the pipes to market soon.
Molecor (SEA) Sdn Bhd will start off with three (3) production lines that have a total capacity of 11,000 metric tonnes per year, or an estimated pipe length of 3,700 km. The Group intends to double this capacity to six (6) production lines by end of year 2015, to cater for distribution in the South-East Asian market.
Molecor (SEA) Sdn Bhd is the exclusive manufacturer and marketer of PVC-O water pipes under the HYPRO brand in Malaysia and South East Asia. Patented technology from Spain, Molecor (SEA) Sdn Bhd's revolutionary PVC-O pipes are lightweight, highly-durable and are able to withstand high pressures for water transportation. These attributes make the PVC-O pipe a viable choice for new pipe-laying opportunities from both private and public sectors, including the Government's nationwide pipe-replacement initiative.
Chris , u r absolutely right. I have hold it >1 years. Is feeling painful if look for short term, but surprise me when it check once awhile in a blue moon.
when you buy shares like this one, just throw it into the drawer and sleep. check it every quarter for dividends, every year for profits if u wanna sell.
ok noted because last time eforce take bout 2 months so I was expecting same duration. so I would expect maybe oct-nov tat period we have get the entitlement.
Like for Amprop, it had obtained the approval from Bursa last Friday. After abt 2.5 months from announcement May 22nd 2014. EGM Sept 9th. So expect it to be completed within the similar time frame for Fitters too. 3-3.5 months on average.
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....
presint
181 posts
Posted by presint > 2014-08-01 16:10 | Report Abuse
Posted by sephiroth > Aug 1, 2014 02:36 PM | Report Abuse
once announce ex-date , will fly, only a matter of time, free warrant mah, ppl give u free cash, u dun want meh?
of course people want... ;)