Recent Gamuda (stock code 5398)

gamuda-chart Gamuda is one the not many property developer that been in correction for the last few days. See Gamuda daily chart above. What the reason behind? Is it already corrected to an attractive price for a short-term buy?

Prior to 17 Nov, Gamuda been acquired and disposed (rinse and repeat) by EPF and HSBC Holding plc U.K. (could be a nominee for a hedge fund).  And on the last few days, they been profit-taking (see the 3 black candlesticks)

Recent announcement:
EMPLOYEES SHARE OPTION SCHEME (SCHEME) 25 Nov 09
..........additional 85,000 new ordinary shares of RM1.00 each issued pursuant to the aforesaid Scheme will be granted listing and quotation with effect from 9.00 a.m., Monday, 30 November 2009.

The new ordinary shares owners can be very eager to sell when the shares get listed started 30 Nov 09. Anyway, 85,000 no. shares is not that many,  I don't think it can really dilute the price.  Also, before this, 312,000 no. of new shares already listed on 12 Nov 09.  
Can it rebound good soon?  First, the 3 black crow (almost) candlestick formed is a bearish pattern, that made the price will be more on bearish mode and any rebound shall be weak. Also, technically, the minor support (RM 3.05) already breached, that made the downtrend probably will go to the next support, that around RM 2.50. For that reasons, I prefer to let at least a week passed first before looking at it again. Note that next AGM is on 17 December 09.

update 30 Nov 09:
1. Two bearish factors triggered a sell-off on the regional stock markets on Friday. One, the devaluation of the Vietnamese currency on Wednesday had direct impact on Gamuda's property development activities in that country. The other bearish factor was Dubai World's suspension of debt repayment that may affect global markets.               source : businesstimes
2. A Gamuda Bhd top official said the company was not significantly exposed to the fallout in the construction sector in Dubai. source thestar

update: 03 dec 09
Gamuda splash deal off
Latest post on Gamuda on this blog at http://klse-stocks.blogspot.com/2009/12/gamuda-latest-technical-outlook.html
gamuda-chart Gamuda is one the not many property developer that been in correction for the last few days. See Gamuda daily chart above. What the reason behind? Is it already corrected to an attractive price for a short-term buy?

Prior to 17 Nov, Gamuda been acquired and disposed (rinse and repeat) by EPF and HSBC Holding plc U.K. (could be a nominee for a hedge fund).  And on the last few days, they been profit-taking (see the 3 black candlesticks)

Recent announcement:
EMPLOYEES SHARE OPTION SCHEME (SCHEME) 25 Nov 09
..........additional 85,000 new ordinary shares of RM1.00 each issued pursuant to the aforesaid Scheme will be granted listing and quotation with effect from 9.00 a.m., Monday, 30 November 2009.

The new ordinary shares owners can be very eager to sell when the shares get listed started 30 Nov 09. Anyway, 85,000 no. shares is not that many,  I don't think it can really dilute the price.  Also, before this, 312,000 no. of new shares already listed on 12 Nov 09.  
Can it rebound good soon?  First, the 3 black crow (almost) candlestick formed is a bearish pattern, that made the price will be more on bearish mode and any rebound shall be weak. Also, technically, the minor support (RM 3.05) already breached, that made the downtrend probably will go to the next support, that around RM 2.50. For that reasons, I prefer to let at least a week passed first before looking at it again. Note that next AGM is on 17 December 09.

update 30 Nov 09:
1. Two bearish factors triggered a sell-off on the regional stock markets on Friday. One, the devaluation of the Vietnamese currency on Wednesday had direct impact on Gamuda's property development activities in that country. The other bearish factor was Dubai World's suspension of debt repayment that may affect global markets.               source : businesstimes
2. A Gamuda Bhd top official said the company was not significantly exposed to the fallout in the construction sector in Dubai. source thestar

update: 03 dec 09
Gamuda splash deal off
Latest post on Gamuda on this blog at http://klse-stocks.blogspot.com/2009/12/gamuda-latest-technical-outlook.html

1 comments:

Metalda said...

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