Good news maybe is based on previous quarterly report, management said the outlook is very promising due to increasing broiler sales enquiries during MCO and aftermath.
In addition, recent acquisition of Tera VA which involved in solar power industry will generate stable income in future, and together with water treatment segment, provision of these services to QL Resources and private sector can be expected.
Khuen, look like mgnt quite hardwking for diversify and explore more income sources , this counter is making money , but dun know y share price stagnant like hell
Stagnant because no one notices yet, indeed a good company with QL management. Diversification to solar energy and water treatment that aren't cyclical is to reduce dependency on palm oil sector which is cyclical following commodity price, not a bad move.
today gap up price action is encouraging with increasing volume for the past 2 weeks. Just a minor resistance at 0.68. Once price stands above 0.68, next price target 0.80.
my target price is RM1.29 - RM1.59 based on historical valuation with only palm oil broiler, but now with solar energy and water treatment, maybe higher.
from the start in 2011, BM had its 3 yrs uptrend, followed by 6 yrs downtrend till now recently which IMHO the downtrend has ended. Now, BM is in his early baby bull run. With new decade of the commodity bull run just started, BM is a good potential counter as he ties with CPO. It is worth to hold long term with super return. Now, should be the accumulation period.
As expected, qr result was adversely affected due to MCO but they are confident in its prospect driven by project order book on hand, rebound of CPO prices and solar energy projects.
After hitting the fib level of 161.8% at 0.685, BM started to retrace back to its 23.6% level (0.57) & recovered from there. Next round of wave up indeed has started with next price target 0.77
Correct me if I'm wrong, i remember the board says in 2021 indonesia revenue contribution will be meaningful. Is this what trigger the run? I didnt attend their recent agm....
After consolidation for 2 mths (Aug-Oct), new launch of uptrend continue. It is just a minor resistance at 0.80. Once it stands firm at 0.80, next level 1.00. Cheers..
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Posted by Uk_ikzer > 2020-06-27 02:15 | Report Abuse
Is it double top?