Old Chang Kee seems to be driven into a overbought situation from TA point of view.
After touching the low of 68 cents on 23rd Aug 2016 it had since stage a strong recovery and head higher to touch All-Time-High of 82.5 cents on 18th Nov 2016.
Personally, I view this as over-extended. It may soon retrace/retreat to a lower price.
Half year EPS of 2.05 cents , assuming a Full year EPS of 4.1 cents , implying a PE of about 20 times. Dividend of 3 cents which is about 3.6% yield base on 82 cents last Friday closing price.
Nav of 26 cents.p/b 3.15 .
I think a more realistic Target price is about PE 18 times - 73.5 cents supported by the dividend yield of 4% ( 3 cents dividend).
I think it will be a good time to lock in profit.
( trade base on your own decision)
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