Since my last company update on Sapphire on 10 March 2017 (see HERE), Sapphire has unveiled other interesting updates.
Capital World (formerly known as Terratech Group Limited) has slumped a whopping 46 percent from its intraday high of $0.240 on 29 March 2017 to close $0.130 on 1 June 2017. What has happened to cause such a massive fall? Will it fall further?
Hatten Land (Hatten) has dropped 39 percent from an intraday high of $0.300 on 28 February 2017 to close $0.183 on 23 May 2017. What has caused the sharp decline? Where is the bottom?
Below is my personal opinion on the market. As previously mentioned to my clients, I aim to reduce my percentage invested in stocks (currently around 130% invested), especially the non-performing stocks, with no immediate near term catalysts.
Two charts have caught my attention, one potentially bullish (Singare Post) and the other one potentially bearish (ISOTeam). Below are my personal views.
Banyan Tree Holdings (Banyan Tree) recently clinched two noteworthy strategic partnerships with AccorHotels and Vanke on 8 December 2016 and 23 January 2017 respectively. Since 23 January 2017, Banyan Tree has largely traded between $0.465 to $0.530. It closed at $0.510 on 17 April 2017.
Midas has slumped 14 percent post a 76 percent growth in its FY16 results. It closed at $0.225 on 7 April 2017 which was near the all-time closing low of $0.210.
After 109 trading days, S&P500 finally staged a 1 percent drop on 21 March 2017. Is this the start of a correction? Let’s take a look at the charts.
Notwithstanding the rally in the equity market, there are some stocks which continue to be laggards and are consolidating around their key support areas.
For those who have gone to Malacca, they may have seen the property developments by Hatten Land. Some may have gone as far to say that Hatten Land in Malacca may be considered as our “Capitaland” (to some extent) in Singapore. For those who are not familiar with Hatten Land, below is a short write-up.