Petdag's net profit dropped by 3.3% q-o-q to RM228 million despite a 7.6%-increase in turnover to RM6.382 billion. The decline was attributable to higher operating expenditures. However, net profit increased by 41.8% y-o-y on the back of a 17.8%-increase in turnover.
Table: Petdag's last 8 quarterly results
Chart 1: Petdag's past 12 quarterly results
Valuation
Petdag (closed at RM15.60 at noon) is now trading at a PE of 17.8 times (based on last 4 quarters' EPS of 87.6 sen). At this multiple, Petdag is almost fully valued.
Technical Outlook
Petdag is in a long-term uptrend line, with support at RM9.00. The possible resistance posed by the parallel line (to the long-term uptrend line) is at RM18.00. The RSI has hooked down, which may be signally weakness ahead.
Chart 2: Petdag's monthly chart as at May 24, 2011_plotted on log scale (Source: Tradesignum)
Conclusion
As Petdag is trading near its fair value & may encounter possible resistance as it approach the RM18.00 level, we should consider selling into strength if & when it exceeds the RM16.00 mark.
3 comments:
Would you comment on LINGUI & BENALEC pls..
Hi bro,
petdag has hit a higher high today.
I guess the candle EOD will change the chart patter.
Will it change your view for the s/term as well?
FYI, I have petdag-cb , which was trade at discount 2% ; and yet expired on Oct 2011.
Thx for u sharing.
Bro,
I already sold my petdag-cb
intraday
buy 0.15 -400 lot
sell 0.17 -500 lot
1 week holding
buy 0.155 -500 lot
sell 0.17 -500 lot
my lucky day, not make red figure :)
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