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Thursday, January 7, 2016

KepCorp

Update - 8th January 2016

Keppel Corp again experience selling down at the opening price of $5.68 this morning and prices quickly recover and close higher at $5.80 today. A white candle stick appear on the chart .Volume was quite high with 11.11m changing hand.Hopefully next week the price may continue to move up so as to provide indication of the next direction.
The selling down was partly due to China market selling down of 7% and hitting the axe breaker trading suspension and the fear of contract /order cancellation of Rigs by one of the client and some foreign fund manager downgrading the counter.



Keppel Corp - 7th January 2016

Keppel Corp has been experiencing a series of selling down from $6.56 to a low of $5.82 within the span of 4 days. This is super bearish. The selling is overdone as reflected on the chart with 3 Black Candle sticks plus couple with super high volume.
Both MACD & RSI are showing sign of being oversold .



Technically it may expect to see a rebounce any moment.

The next support level is $5.50.

Current price of $5.82 is about PE 7.46 times which is presenting quite a good price for consideration to accumulate.
The company is going to announce its FY 2016 result on 21st January 2016.
Let's wait patiently for the coming result and hopefully the company can still declare dividend of 30 to 36 cents for Final dividend.
(Trade/invest base on your own decision)

Some of the recent deals done are as follows:

1. SHARE SWAP INVOLVING KEPPEL BAY TOWER AND HARBOURFRONT TOWERS 1(30th Dec).
Quote - "The share swap presents an attractive opportunity for the Keppel Group to unwind the cross holdings with Mapletree and augment Keppel Land’s sterling portfolio of prime commercial properties." 

2.Keppel Offshore & Marine Ltd (Keppel O&M)'s localand overseas subsidiaries continue to win strong support from repeat customers by
securing four contracts worth a total of about S$125million.(29th Dec )

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