Stock Name: PETRA
Company Name: PETRA PERDANA BHD
Research House: OSK
KUALA LUMPUR: PETRA PERDANA BHD [] shares rose on Thursday, May 12 after it secured RM73 million worth of new charter contracts for three mid-size anchor handling tug supply (AHTS) vessels.
At 10.35am, Petra Perdana rose 2.5 sen to RM1.02 with 2.69 million shares traded.
CIMB Equities Research has a Buy on Petra Perdana at 99.5 sen, at which it is trading at a price-to-book value of 0.9 times and FY12 price-to-earnings of 14.4 times.
It said on Thursday, May 12 Petra has been consolidating in a wedge pattern for the past few weeks. This consolidation phase appears to be at its tail end.
'As long as prices can hold steady above its recent swing low of RM0.925, we think stronger rebound is imminent,' it said.
CIMB Research said the technical landscape is improving. MACD histogram bars are falling at a slower pace while RSI has also turned upward. There is a minor hurdle at the 30-day SMA (now at RM1.02) while further upswing should push prices towards RM1.06 and RM1.15 next.
'Our strategy here is to buy on weakness. Prices must not fall below the 92.5 sen low to keep the bulls intact. Be quick to cut losses if prices violate the wedge support,' it said.
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Company Name: PETRA PERDANA BHD
Research House: OSK
KUALA LUMPUR: PETRA PERDANA BHD [] shares rose on Thursday, May 12 after it secured RM73 million worth of new charter contracts for three mid-size anchor handling tug supply (AHTS) vessels.
At 10.35am, Petra Perdana rose 2.5 sen to RM1.02 with 2.69 million shares traded.
CIMB Equities Research has a Buy on Petra Perdana at 99.5 sen, at which it is trading at a price-to-book value of 0.9 times and FY12 price-to-earnings of 14.4 times.
It said on Thursday, May 12 Petra has been consolidating in a wedge pattern for the past few weeks. This consolidation phase appears to be at its tail end.
'As long as prices can hold steady above its recent swing low of RM0.925, we think stronger rebound is imminent,' it said.
CIMB Research said the technical landscape is improving. MACD histogram bars are falling at a slower pace while RSI has also turned upward. There is a minor hurdle at the 30-day SMA (now at RM1.02) while further upswing should push prices towards RM1.06 and RM1.15 next.
'Our strategy here is to buy on weakness. Prices must not fall below the 92.5 sen low to keep the bulls intact. Be quick to cut losses if prices violate the wedge support,' it said.
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stay up! as a shareholder, I definitely want the company to rise up against the challenges. Ignore all negative comments. Much regards to the current young talented and hard working Management team of the company. To many of us the shareholders and Malaysian citizen, they represent the new breed of working class people. They provide hope for many that fair play and success can exist in our oppressive system.
ReplyDeleteNever interrupt your enemy when he is making a mistake. Let them try, again and again. then expose them like what you did before. remember, When there is no enemy within, the enemies outside cannot hurt you.
ReplyDeleteEnemies were the friends you thought you had, until they stabbed you in the back.
ReplyDeleteEx-directors to accept your fate. After all, you claimed that the company was in bad debt, losing money so on and unable to pay staff salary. As such, don't you feel glad that you are now able to wash your hands off the company? Instead, why the ill feelings?