KSH (ER0): Mark Up
The stock re-accumulated for about 2 months. Line change this morning, currently trading a S$0.94. The volume would need to play catch up for a valid line change.
Initial Target is S$1.00, with our usual 8Days MA trailing the trade.
Company reported earnings on Friday, with 33.40% drop in annual profit to S$41m, declared final and special dividend of 1.5cents and 0.5cents per share. But what excite the market is the proposed 1 bonus share for every existing share.
Its recent venture with its consortium partners in acquiring, Rio Casa could well be another profitable venture amid the current bullish property market.
Probable Trade Set-up:
R/R Ratio: 2.00x