Excelyou, agree with you that 2021 theme is steel.
But I need to correct u as Engtex is water theme like Puncak, Gkent, fitters and KPS. Core business is more like big hardwares shop with 1 stop water solutions. ( distribution & wholesale). Manufacturing is on iron ductile pipes and valves. They don't produce steel and only distribute it.
Increase in iron, steel, copper actually make they end product expensive. So an increase in ASP for steel wouldn't reflect in its qr.
Why not u consider joining Lsteel cos with price almost equal u could enjoy the following :
1) bigger ownership with same amount invested 2) double dividend of engtex 0.075 ( very consistent yearly) 3) true steel theme play 4) very much lower PE
I'm happy that engtex too have an errection today, cheers!!
At 0.855 I almost got myself 1 new myvi and I did not even que cos I'm aiming for x50 mah.
Seriously talk, overall today is very good 4 lsteel as price increase by 11.11% with expanding volumes and each price perfectly filled up. Today average volume price is 0.8 as closing price.
Today both LS and SSteel finish champion among steel ctns. LS finished 1st in split sec by percentage. Now can see market compansating due to its lagging in price.
I can say really big players on board and new owners ship change hand at 0.8. Its all depends on these players ( contra, margin, speculator, punter, investor or WC followers).
I dun have the answer now, but if retract below 0.765 then yes. My style not fast in fast out but rather identify potential ctn and buy in before big movement comes.
If today bear bear didn't came, Lsteel might closeed at 0.855 which is close to my 1st TP 0.9
I sincerely promote this counter when price at 0.5++. Strongly recommend when price moving from 0.6 as I see momentum picking up. That's why I say 0.6 to 0.665 buyers advantage just 2 days ago.
0.84 is a year highest resistance, manage to break but can't sustain. I believe 1 or 2 try should see price enter 0.9 band.
NEED TO REMIND U THAT AS PRICES RISE SAME GOES AS RISK!!!
Its all depends on your appetite of risks, fund availability and holding power.
I dun need u to take my shares and my opinion cause u to lose money. If u r new to Lsteel pls go thru what I wrote plus others better advice, think carefully be4 proceed.
Advise : always got bullets standby and manage ur portfolios according to fund size, dun have all purchase at high side to minimise risk. Maybe I worried too much as u might be a very good investor, haha!! in this way sharks can never shake u away.
BUYING IN IS SECODARY, JUST DUN LET ANY SHARE SLIP THRU UR HAND THATS IMPORTANT. For shareholders.
MY GAME PLAN : I manage to position earlier and now sits on some safety margin. Will do some trading depend on price, small portion and will definitely have 80 % of holding wait until next qr as I anticipate boom effect.
Iron ore price surges as steel rally fires up demand
MINING.COM Staff Writer | May 5, 2021 | 10:43 am Intelligence Markets Australia China Latin America Iron Ore Iron ore price surge as steel rally fires up demand Stock Image Iron ore prices have risen to record highs in recent weeks, largely because supply has not been able to keep pace with demand in China, where crude steel production has grown by 30% over the past five years.
Glove collapsed due to anticipation exceed reality. Tech collapsed due to earnings unable to sustain share price.
but Steel. All beautiful results weyh! Tashin= Up 1600% Prestar= Up 350%
Which sector able to achieve such sterling results in such difficult economic environment ??? Cyclical stocks best to enter while share price still cheap! and good news is this is just beginning of upcycle.
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....
DreamHunter
10,922 posts
Posted by DreamHunter > 2021-05-05 17:04 | Report Abuse
ha ha ha