Just take the sellers, no need to think. I do the thinking for you.
1. 02 may => 02 june: price was at 0.635 moving sideways for a month.
2. On 02 june after market hours, announced fpso shutdown. Share price went down to as low as 0.415 ten days later.
3. Uncertainty of a prolong shutdown.
4. Then, ooops...MERELY 19 DAYS LATER, yesterday on 21 jun announced start-up production has reached 60% level.
5. Start-up and testing continuing. The nature of oil and gas plant start-up, increase of production in matter of like 1 to 2 weeks, not months. If they would shock the market by getting it up n running at 60% previous production in 19 days, they will shock the market again by getting it up to 100% in less than a month.
6. Bottom line, future is up, positive prospect, production will increase. Share price will follow this return pre-production problemt level o 0.635. So, this temporary weakness out of this short term production set back is a GOLDEN BUYING OPPORTUNITY.
7. Chartwise, share price is making a saucer shape u-recovery. Yesterday up, today pullback/consolidating, then in a day or two, will up again.
8. It is forming a cup n handle pattern. Cup top at 0.525, 06 june opening price. Cup bottom at 0.42 on 12 june. It will take out 0.525 and head towards 0.525 + (0.525 - 0.42) = 0.63, just a matter of time.
9. Its MACD has staged a GOLDEN CROSS today, which is a bullish signal.
10. Its RSI is at 32% which is far away from overbought, thus with ample room for significant upward move.
11. Once production restored to full previous capacity, it will return to sideways movement 0.60 - 0.65 for 1 to 2 months, b4 it will move up n break the recent new high above 0.70 towards 0.80 - 0.90.
After the recent purchases, my average is now RM0.295. Prior to that it was RM0.262. I have been forced to "average up" each time. My original buy back in October 2020 was 350k at 22.5 sen.
@ NikiCheong "After the recent purchases, my average is now RM0.295. Prior to that it was RM0.262. I have been forced to "average up" each time. My original buy back in October 2020 was 350k at 22.5 sen " 17 minutes ago Hi Niki Did you ever trade Armada shares in between Oct 2020 till now or you just keep adding when the prices moved ? If you did sell some of Armada shares holding then did you deduct the profit you made from the sales to offset your overall invested costs in Armada share to arrive at your average cost of existing holding ?
sslee you should keep doing what you are comfortable with. I cannot go back this road to Armada anymore. Thanks for your support on Armada beer and lobster. Already addicted elsewhere to extreme risk extreme gains
Many here are gamblers, please skip my post. It's meant for those who believe Armada is a long term investment. I talked to a Singaporean businessman who supports FPSOs equipments few months back to understand the FPSO landscape. After the meet up, i have taken off Armada from my stock watch list. To cut the story short, Armada has little chance of gaining future FPSO contracts. At least with current management. Have you heard them bidding for new FPSO or any updates on future prospects? Of course, even if no new contracts Armada still worth something. For you to decide how much it's worth. Just that it won't be something i would keep for 5 or 10 years.
A positive update, the Armada Kraken FPSO is targeted to return to full production in the matter of weeks, not months. We're looking at between the next 2 to 4 weeks.
#Zhuge_Liang I have very high respect on i3lurker previously. He is knowledgeable and talks with facts and figures.
He had changed from a high respect person to a low class attacker in I3 now. He never or does not have money to buy any stock except to attack every stock in I3 intentionally or unintentionally. I really cannot understand his motive in I3, try to help and share information to help readers or to make readers lose money by talking nonsense to bad mouth all the stocks. Many readers had cursed him day and night, I do not know whether he feels very happy to read all these cursing remarks. I believe i3lurker did not do well in his investment on stocks, he find his new hobby to find thrilled to attack all stocks in I3. He liked to see all investors lost money in KLSE.
Hope i3lurker will turn into a new leaf and be a kind person to share good information to help readers here to make more money. Please stop all his bad intentions to attack all stocks in I3. I hope to see a reformed i3lurker, a helpful and high respect person who is willing to help all readers here to make more money. Will you !! i3lurker ?? 22/06/2023 7:18 PM
+1 I agree..
Mabel too would like to see the previous i3lurker that Mabel used to engaged with. He used to be resourceful like our handsome Sslee. In fact Mabel made 800% Profit in Barakah was based on his sharing about Warren Buffett Cigar Butt Strategy in the Barakah Forum..
Looking forward to see the same i3lurker that I used to know...
Niki, where you get the update? Enquest IR or the xxx at Enquest, who operate the Kraken field ------------------------------------------------------------------ nikicheong A positive update, the Armada Kraken FPSO is targeted to return to full production in the matter of weeks, not months. We're looking at between the next 2 to 4 weeks.
Many longs here are disappointed we have not recovered 60% of the loss when we have 60% of production at Kraken. Here is my thinking.
Valuation of 63 sens was based on 3 years of nearly perfect production at Kraken and meeting the target. Now this confidence is destroyed. Previous problem of start up mentioned again. Even if we restore production, we will not restore a record of 3 years. That will take time. About 3 years, I would say ... :-) I say fair price will be 55 sens as neutral valuation before confidence is restored.
And no other news will lift the stock with Kraken issue not resolved. Management must prove to shareholders that they can handle it. This is catalyst number 0 on Nick's list. Necessary for other catalysts to work as a precondition.
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
Report Abuse
Please Sign In to report this post as abuse.
Market Buzz
No result.
Featured Posts
MQ Trader
Introducing MY's First IPO Fund for Sophisticated Investors!
MQ Chat
New Update. Discover investment communities that resonate with your ideas
MQ Trader
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
0:17
New IPO: Colform Group Berhad, a specialist in steel and building materials, aims to list on the ACE Market!
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....
Felix888
3,381 posts
Posted by Felix888 > 2023-06-22 12:08 | Report Abuse
Keep the 95% uptime SLA in the back of your mind. Don't sailang ya.